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AAP
AAP
Holly Hales

Pump and dump share scheme 'tried to rig stock prices'

ASIC
An allegedly illegal 'pump and dump' scheme prompted the regulator to intervene on social media. (HANDOUT/ASIC)

An alleged scheme to artificially inflate share prices before selling the stock has been busted by the financial regulator.

Participants in the alleged "pump and dump" scheme face up to 15 years behind bars and fines of more than $1 million, after being charged with conspiracy to commit market rigging and false trading.

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