A 31-year-old South Australian man has pleaded guilty in the District Court of South Australia to market manipulation charges under sections 1041A(c) and 1041B(1)(a) of the Corporations Act following an ASIC investigation into his trading in contracts for difference (CFDs) and shares.
Stefan Mark Boitcheff, a day trader living in Virginia, South Australia, pleaded guilty to the following two charges:
- between 3 January 2013 and 28 October 2013, carrying out 117 transactions in CFDs relating to Anteo Diagnostics Limited (ADO) shares which had the effect of creating an artificial price for trading in ADO shares on the ASX; and
- between 8 May 2013 and 7 January 2014, carrying out 4 transactions in CFDs relating to ADO and in the shares of ADO, that had the effect of creating a false or misleading appearance of active trading in ADO shares on the ASX.
The matter was in Court on 25 August 2017 and will return to the District Court in Adelaide on Monday, 16 October 2017 to hear sentencing submissions.
The Commonwealth Director of Public Prosecutions is prosecuting the matter.