The State Securities Commission on Thursday fined two investors VND550 million (US$24,700) each for rigging stock prices.
Investigators found that Trinh Cong Son used 13 different accounts to conduct fake transactions and manipulate the share price of NHP Import Export Production Company at the Hanoi Stock Exchange.
His scheme lasted from March, when the company went public, and July last year. It has not been confirmed whether he is a major shareholder of the company.
The stock market regulator also fined Vo Thi Thu Hang, who used nine different accounts to manipulate the share price of rubber producing and trading company Duc Long Gia Lai in Ho Chi Minh from late 2014 to February 2015. She is not a major shareholder.
Investigators believed both of them acted on their own for personal gains.