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

Wang Fatong, the manipulator, owned many trading accounts and invested a wad in money buying and selling shares in last year's first half, by which he manipulated the prices of Jiangsu Rutong Petro-Machinery, Clenergy (Xiamen) Technology and A-Zenith Home Furnishings headquartered in Nantong, Jiangsu province.

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

The CSRCs document also listed the detailed processes and means by which Wang turned a profit via the manipulation, and other evidence.

Wang fiddled the stocks, but actually made just CNY346 million (USD52 million) from one but failed to affect the other 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 prices have been persistent in the A-share market. CSRC's market monitoring system has recently transformed and upgraded, however, and the help of new technologies like Big Data will expose violations that previously were hard to track and ease collection of evidence.

Editor: Ben Armour