SMBC Nikko Securities Vice President Arrested Suspicion of Market Manipulation Tokyo District Inspection Special Investigation Department

In a market manipulation case by executives of a major securities company, SMBC Nikko Securities, the Tokyo District Public Prosecutor's Office suspected that the 59-year-old vice president was involved in fraudulent stock trading to maintain stock prices for certain stocks. On the 24th, he was arrested on suspicion of market manipulation in violation of the Financial Instruments and Exchange Act.

The case involving SMBC Nikko Securities led to the arrest of the incumbent Vice President.

According to people familiar with the matter, the vice president explained to the Special Investigation Department that he had received reports of the transaction but did not recognize it as illegal.

The person arrested was Toshihiro Sato (59), vice president of SMBC Nikko Securities.

According to the Tokyo District Public Prosecutor's Office, Vice President Sato was suspected of violating the Financial Instruments and Exchange Act in April last year, alleging that he made fraudulent transactions such as buying a large number of stocks in order to prevent the decline of specific stocks. I am.

On the 4th of this month, the Special Investigation Department arrested four executives, including the former general manager of the Equity Headquarters, which is supervised by Vice President Sato, on suspicion of market manipulation, and as a result of proceeding with the investigation, such as hearing from Vice President Sato voluntarily. It turned out that the vice president himself was suspected of being involved in a fraudulent transaction.

The case involving SMBC Nikko Securities led to the arrest of the incumbent Vice President.

The Special Investigation Department believes that fraud was committed within the company of a major securities company with the involvement of upper management, and plans to further clarify the actual situation.

According to the people concerned, Vice President Sato explained to the investigation before the arrest of the Special Investigation Department that "I received a report of the transaction, but I did not recognize it as illegal."