CSRC: Jiang Ye and Ma Hongguang manipulated the trading of fresh apple 2404 futures contracts and were fined 3.36 million yuan.

According to the news released by the China Securities Regulatory Commission on July 3, the commission conducted an investigation into the manipulation of the Fresh Apple 2404 futures contract by Jiang Ye and Ma Hongguang. The commission believes that Jiang Ye and Ma Hongguang violated Article 12, Paragraph 2, Item 8 of the Futures and Derivatives Law, constituting market manipulation as described in Article 125 of the Futures and Derivatives Law. Based on the facts, nature, circumstances, and degree of social harm of the illegal acts of the parties involved, in accordance with Article 125 of the Futures and Derivatives Law, the commission has decided to confiscate the illegal gains of Jiang Ye and Ma Hongguang amounting to 360,031.87 yuan, with Jiang Ye bearing 360,031.87 yuan and Ma Hongguang bearing 0 yuan; and to impose a fine of 3,000,000 yuan, with Jiang Ye bearing 1,500,000 yuan and Ma Hongguang bearing 1,500,000 yuan.