Regulatory Alerts2025-12-12
Victorian man sentenced for market manipulation via wash trading
The Australian Securities and Investments Commission (ASIC) announced that Behzad Eghrari was sentenced to 15 months imprisonment for executing $7.14 million in wash trades across four controlled brokerage accounts. Eghrari pleaded guilty to three charges of market manipulation involving ASX-listed securities, admitting to creating a false appearance of active trading despite repeated warnings from his broker. This enforcement action underscores ASIC's priority to combat misconduct that distorts market integrity and harms honest participants.
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