(Yicai Global) Nov. 2 -- China's securities regulator hasmassivelyfined an individual who fraudulently bought and resold three stocks recentlyin China's A-share marketto manipulate their prices. The total amount of illegal income confiscated and the fine reached CNY1.04 billion (USD151 million).

Wang Fatong, the manipulator, ownedmanytrading accounts and invested a wad in moneybuying andselling shares in last year's first half, by which he manipulated the prices ofJiangsuRutong Petro-Machinery, Clenergy(Xiamen)Technologyand A-ZenithHome Furnishingsheadquartered in Nantong,Jiangsuprovince.

The illegal income was enormous, and his acts seriously interfered with the order and norms of the securities marketandinfringedother investors' interests, per the administrative penalty documents the China Securities Regulatory Commission released today.

The CSRCs document also listed the detailed processesand meansby which Wangturneda profit via the manipulation,and other evidence.

Wangfiddled the stocks, but actually made just CNY346 million (USD52 million) from one but failed toaffecttheother two.

The penalty is set at about CNY1.04 billion (USD150 million), which is three times the illegal income in the profit-earning account plus a fine of CNY2 million (USD USD291,000) for the two failed manipulations.

Secret deals and manipulations of stock priceshave been persistentin the A-share market. CSRC's market monitoring system has recently transformed and upgraded, however,andthe help of new technologies like Big Data will expose violationsthatpreviously were hard to track andeasecollection ofevidence.

Editor: Ben Armour