SMBC Nikko Securities workers nabbed for alleged stock manipulation

Economy Society

Tokyo prosecutors on Friday arrested four employees of SMBC Nikko Securities Inc. in connection with alleged stock manipulation and searched the Tokyo headquarters of the major Japanese brokerage. The four employees, including Trevor Hill, head of the company's equity department, are suspected of trying to prevent a decrease in share prices for five individual stocks on the First Section of the Tokyo Stock Exchange through actions including placing buy orders from December 2019 to November 2020, investigative sources said. It is rare for Tokyo prosecutors to raid a major Japanese securities co...

Kyodo News

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