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Reuters
Reuters
Business

Australian 'finfluencer' gets 2-1/2 year sentence for market manipulation

ASX

Australian trader and online personality Gabriel Govinda was sentenced to two and half years imprisonment after he pled guilty to 23 charges of market manipulation, the country's securities regulator said on Wednesday.

Govinda, who goes by the pseudonym 'Fibonarchery' on HotCopper, an online stock market chat forum, was also fined A$42,840 "for market manipulation and finfluencer conduct," the Australian Securities & Investments Commission said.

He will be released immediately on a 5-year recognisance of A$5,000.

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