The State Securities Commission (SSC) has just issued decisions to sanction Ms. Pham Thi My Dieu (Chanh Hung ward, Ho Chi Minh City) for manipulating MTG shares of MT Gas Joint Stock Company.
Based on the results of supervision and inspection by the SSC, on August 25, 2026, the SSC issued Decision No. 522/QD-XPHC on sanctioning administrative violations against Ms. Pham Thi My Dieu.
Ms. Dieu was fined 1.5 billion VND and revoked her right to use her securities practice certificate for 21 months. At the same time, she was also banned from trading securities for 3 years, banned from holding positions at securities companies, securities investment fund management companies, securities company branches and foreign fund management companies in Vietnam, securities investment companies also for three years. Two bans took effect from August 28.
According to information from the SSC, the application of these penalties is because in the period from October 31, 2022 to May 31, 2024, Ms. Dieu used two securities accounts to continuously buy and sell MTG shares to create artificial supply and demand. The SSC also said that the inspection results and calculation results of illegal revenue showed that Ms. Dieu did not have illegal revenue from the violation.
In addition, based on the results of supervision and inspection by the SSC, on August 25, 2026, the SSC issued Decision No. 523/QD-XPHC on sanctioning administrative violations against Mr. Tran Xuan Dung (Thong Tay Hoi ward, Ho Chi Minh City).
Mr. Dung was suspended from securities trading activities for a period of 09 months, from August 28, 2026 according to the provisions of Clause 1, Article 34 of Decree No. 156/2020/ND-CP amended and supplemented in Clause 28, Article 1 of Decree No. 128/2021/ND-CP for having acts of lending accounts to others for securities trading leading to acts of manipulating the stock market.
Mr. Tran Xuan Dung lent Ms. Pham Thi My Dieu a securities account to trade securities, leading to acts of manipulating the stock market in the period from October 31, 2022 to May 31, 2024 for MTG shares. The inspection results also have no basis to determine that Mr. Tran Xuan Dung had illegal profits obtained from committing violations.
Mr. Dung was also banned from trading securities for two years and banned from holding positions in securities business organizations for two years.
MT Gas Joint Stock Company, formerly MT Gas Co., Ltd., was established in 2001. The company officially operated under the form of a joint stock company from 2007. Main business lines: production and trading of liquefied natural gas; gasoline, oil, lubricants; distribution of civil and industrial gas products; warehouse rental; LPG storage; port service business.
According to data from UPCOM, MTG stock price increased 4 times during the period of violation. MTG shares closed the session on October 31, 2022 at 3,800 VND/share. By March 25, 2024, this stock increased to 15,300 VND/share, 4 times higher than in October 2022.
By the session on May 31, 2024, the final milestone of the period with violations, MTG fell to 8,900 VND/share. According to statistics, in the above 19-month period, an average of about 6,000 MTG shares were traded per session.
Since the beginning of 2026, there have been many sessions where MTG shares have not had liquidity.This stock price has been sideways around the 10,000 VND/share mark.
