BRN Discussion Ongoing

[Mea culpa]

A reminder about share price manipulation:

20230607

Share trader faces jail over ‘pump and dump’ scheme | news.com.au — Australia’s leading news site

https://www.news.com.au/finance/share-trader-pleads-guilty-to-market-manipulation-over-pump-and-dump-scheme/news-story/0eabcbb99e35d1f5d3b55a1aa4d60f46

A Melbourne share trader who used online posts to pump up share prices, then sell them for inflated prices, has become the first person in Australia to be convicted over a “pump and dump” scheme.

Gabriel Govinda, known online as Fibonarchery, used 13 different share trading accounts in the names of friends and relatives to manipulate the share price of 20 different listed stocks, between September 2014 and July 2015.

The 41-year-old traded between the accounts he controlled – known as wash trading – using dummy bids to falsely boost the perceived demand, and ultimately the price, for listed stocks.

He used online posts on hotcrapper to illegally spread information about his wash trades and dummy bids, seeking to pump up share prices, then sell them at a higher price.

In one post he quipped “dummy bids are all part of the fun and games and cat and mouse of the stockmarket!”

Mr Govinda pleaded guilty on Monday to 23 charges of manipulation of listed stocks on the Australian Securities Exchange and 19 of illegal dissemination of information relating to the manipulation.

He faces up to 10 years’ jail on each charge or a fine of up to $765,000, or both.

He is the first person to be convicted of false trading and market rigging, through creating a false or misleading appearance of active trading, under the Corporations Act.

The corporate regulator noted a “concerning trend” of social media posts being used to co-ordinate “pump and dump” schemes, a practice which famously landed Jordan Belfort, the former stockbroker whose story inspired The Wolf of Wall Street film, in jail.

Typically, the activity occurs when a person buys shares in a company and starts an organised program to try and boost the share price, by using social media and online forums to create a sense of excitement in a stock or spread false news about the company’s prospects. They then sell their shares and take a profit, while other shareholders suffer as the share price drops.

“ASIC has recently observed blatant attempts to pump share prices, using posts on social media to announce a target stock, a designated time to buy and a target price or percentage gain to be reached before dumping the shares,” the regulator said.

“In some cases, posts on social media forums may mislead subscribers by suggesting the activity is legal.”

ASIC said it continued to act against this type of market manipulation, which threatened the integrity of markets.

Let's hope ASIC hasn't dropped the ball on shorter manipulation.

23-116MR Gabriel Govinda sentenced to two and a half years imprisonment and fined for market manipulation and finfluencer conduct | ASIC

asic.gov.au

Seems since his offending and subsequent conviction the penalties for false trading have been stiffened.

 

[Damo4]

 

[HopalongPetrovski]

A reminder about share price manipulation:

20230607

Share trader faces jail over ‘pump and dump’ scheme | news.com.au — Australia’s leading news site

https://www.news.com.au/finance/share-trader-pleads-guilty-to-market-manipulation-over-pump-and-dump-scheme/news-story/0eabcbb99e35d1f5d3b55a1aa4d60f46

A Melbourne share trader who used online posts to pump up share prices, then sell them for inflated prices, has become the first person in Australia to be convicted over a “pump and dump” scheme.

Gabriel Govinda, known online as Fibonarchery, used 13 different share trading accounts in the names of friends and relatives to manipulate the share price of 20 different listed stocks, between September 2014 and July 2015.

The 41-year-old traded between the accounts he controlled – known as wash trading – using dummy bids to falsely boost the perceived demand, and ultimately the price, for listed stocks.

He used online posts on hotcrapper to illegally spread information about his wash trades and dummy bids, seeking to pump up share prices, then sell them at a higher price.

In one post he quipped “dummy bids are all part of the fun and games and cat and mouse of the stockmarket!”

Mr Govinda pleaded guilty on Monday to 23 charges of manipulation of listed stocks on the Australian Securities Exchange and 19 of illegal dissemination of information relating to the manipulation.

He faces up to 10 years’ jail on each charge or a fine of up to $765,000, or both.

He is the first person to be convicted of false trading and market rigging, through creating a false or misleading appearance of active trading, under the Corporations Act.

The corporate regulator noted a “concerning trend” of social media posts being used to co-ordinate “pump and dump” schemes, a practice which famously landed Jordan Belfort, the former stockbroker whose story inspired The Wolf of Wall Street film, in jail.

Typically, the activity occurs when a person buys shares in a company and starts an organised program to try and boost the share price, by using social media and online forums to create a sense of excitement in a stock or spread false news about the company’s prospects. They then sell their shares and take a profit, while other shareholders suffer as the share price drops.

“ASIC has recently observed blatant attempts to pump share prices, using posts on social media to announce a target stock, a designated time to buy and a target price or percentage gain to be reached before dumping the shares,” the regulator said.

“In some cases, posts on social media forums may mislead subscribers by suggesting the activity is legal.”

ASIC said it continued to act against this type of market manipulation, which threatened the integrity of markets.

Let's hope ASIC hasn't dropped the ball on shorter manipulation.

"Let's hope ASIC hasn't dropped the ball on shorter manipulation."

ASIC, balls, manipulation.......???
(***Warning....advise caution when typing these into google looking for a funny video.)

 

[Sam]

 

[Sam]

Too quick @Damo4

 

[Damo4]

Too quick @Damo4

Thanks, not the first time someone's said that to me

 

[Straw]

Does anyone have figures on insto ownership changes in the last couple of weeks?

 

[Cardpro]

Why are we blaming the shorters? They see opportunities to earn money so they are doing their thing (yes I agree it's annoying)... we need to do something so they dont think brainchip is going to go boom boom or convince market to fk the shorters up but all we did in the past was nothing but to help their agenda...and we are now sliding back to 20c level... management please do something...

 

[Techinvestor17]

POSTED ON June 22nd

NOVELDA’s latest UWB radar presence sensor consumes less than 100 µW​

NOVELDA has unveiled a new low-power ultra-wideband (UWB) radar presence sensor with a power consumption of under 100 µW and designed to operate on two AAA batteries for up to four years.
We first wrote about NOVELDA in 2021 where we covered their UWB X4 presence sensor capable of detecting submillimeter movements with a power consumption of under 2mW. The company has further optimized the technology and has come up with a 30x5mm module capable of doing the same with 0.1mW power consumption.

The sensor is said to work behind various materials such as plastics, tempered glass, and ceramics, the detection zone size and shape can be adjusted to meet the application requirements, and the device provides accurate angle and distance information.
The new ultra-low power UWB radar presence sensor will mostly be useful for energy/resource savings, lengthening a product’s life cycle, and health monitoring with some of the potential applications including:

• Consumer electronic devices with improved energy efficiency and device performance. For example, an LCD screen lifetime could be extended up to 10 years with the UWB sensor.
• Smart hygiene appliances such as the ones found in public restrooms, for instance, faucets and smart toilets, in order to reduce water consumption.
• Lighting control, security systems, smart door locks, and other building automation use cases such as desk occupancy detection
• Breathing motion detection at a range of up to 10 meters in health monitoring devices.
• Precise distance and angle measurement to multiple targets to estimate the number of people in a specific area.
• Battery-powered appliances that can last up to 4 years with just two AAA batteries

Samples of the new NOVELDA presence sensor will be available in Q3 2023, while the final product will only launch in mid-2024. NOVELDA made the announcement as they are demonstrating a prototype at the Sensors Converge Expo 2023 until June 22. A few more details may be found in the press release.

Think this is just a MCU…

 

[Techinvestor17]

Actually, full version is access after you register, only take a minute to register, free of charge.

Here is the link for full version

For anyone that hasn’t watched this I recommend it. Probably the best and most insightful video I’ve seen in a long time.

 

[Sam]

Why are we blaming the shorters? They see opportunities to earn money so they are doing their thing (yes I agree it's annoying)... we need to do something so they dont think brainchip is going to go boom boom or convince market to fk the shorters up but all we did in the past was nothing but to help their agenda...and we are now sliding back to 20c level... management please do something...

It’s ok my right palm is starting to get real itchy, something big is coming I’m sure

 

[newpunta]

HOOOrAY share price is now going up now ......... maybeI can stop topping up if sanity prevails.
eITHER WAY is a Win/wiN
pATIENCE is the Key for what is quite a scary piece of manipulation going on long time - at least there is comfort knowing the ASX is on the ball.
They got their first Man-Ipulator ....... now going after the other 9,999 !
Going nuts - but in a Controlled way .......... wish well to all LTSH - great time to be buying your first Brain shares and wish you well also.
Note to Short people - your turn will come and U will wish you never heard about BrainChip.
Oops gone down again - took me too long to write this ......... lol

 

[Bravo]

EXTRACT

SoftBank CEO Masayoshi Son thinks his firm will 'rule the world' thanks to its AI investments. Believe it or not, that's not as far-fetched as his previous claims.

Son says the firm is positioned to win in the latest artificial-intelligence race, thanks to billions invested in the global startup ecosystem.

www.businessinsider.com

 

[Damo4]

It’s ok my right palm is starting to get real itchy, something big is coming I’m sure

Thought for a second you wanted to slap Cardpro with your right hand too.

 

[TECH]

Lots of Brainchip shareholders are really hurting, maybe you should have sold out if you are that convinced it's all doom and gloom.

It's not my job or the companies to calm your nerves, if you are so driven by the share price that you have entered the panic mode, well sell
your shares and move away from this forum...all I do know is, as of the start of this week our staff have never been more engaged with
customers (potential or otherwise) in our history, that our founder from Perth, Peter, is currently over in the US helping Anil and the team
complete the final process of AKD 2.0.

This indicates to me at least that, the release of AKD 2.0 to EAP's followed by the general public is fast approaching, while I'll personally
concede that this current period towards commercialization feels rather frustrating, it's better to get it right now, rather than later, we
(Brainchip) can't afford any major mistakes at this delicate time in our journey.

I have asked Sean a specific question to be addressed at the upcoming quarterly podcast update with Tony, if he doesn't address my
question, I'll let you know what it was after.

Have a great weekend back in Australia.

Tech

 

[Newk R]

Is anybody seriously happy with our board. FFS, how have they still got their jobs. I am losing thousands every day and retirement (I'm 70) is now a long, long way off. I'm effing fed up and want some answers and I want them now.

 

[FlipDollar]

Is anybody seriously happy with our board. FFS, how have they still got their jobs. I am losing thousands every day and retirement (I'm 70) is now a long, long way off. I'm effing fed up and want some answers and I want them now.

 

[Fox151]

Is anybody seriously happy with our board. FFS, how have they still got their jobs. I am losing thousands every day and retirement (I'm 70) is now a long, long way off. I'm effing fed up and want some answers and I want them now.

Well you won't find them here so maybe whinge to the company.

 

[Newk R]

Well you won't find them here so maybe whinge to the company.

Seriously? Have you ever asked the company hard questions, because I have and get the same production line answers every time. The company does not answer direct questions it just fobs you off with company rhetoric.

 

[AusEire]

Very happy with the board for those asking!