Sea|May 26, 2026 01:01
This morning, I came across a mind-blowing story about A-shares trading.
Chen Lihao, the former actual controller of Europol Intelligent Network, tried to prevent his pledged stocks from being liquidated. He handed over some funds to Lü Mouqi, hoping to stabilize and push up the price of his own stocks.
Lü Mouqi used multiple accounts for concentrated buying and selling, fake orders, and wash trading. Not only did the price support fail, but they ended up losing a total of 592 million yuan.
The company was later delisted, and the two were fined 2.4 million yuan.
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