ASIC v. Henry Eng Chye Heng (price manipulation, 2023)

Judgment entered

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In December 2023 ASIC reported that Eneco Refresh founder and chair Henry Eng Chye Heng pleaded guilty in the Perth Magistrates Court to one count of market manipulation and one of creating a false appearance of active trading, over trades in family-held accounts in 2020 and 2021 to manipulate Eneco's share price, with a sentence mention set for February 2024. The $6,660 in the release is a maximum fine for a different, notification offence, not a penalty imposed.

The record

What was ordered

Civil penalty

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Disgorgement

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Prejudgment interest

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Total relief

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Alleged gain

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A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

the Australian Securities and Investments Commission announced this matter on December 4, 2023 as release 23-326MR. The respondents named are Henry Eng Chye Heng (1 individual, 0 entities).

ASIC alleges 24 manipulative occasions between December 2020 and December 2021 and two false-appearance trades, and separately charged nine counts of failing to notify changes in his interests. This library tags the matter as price manipulation.

The release references a parallel criminal proceeding. Where a criminal case exists, the civil and criminal outcomes are recorded separately, because they resolve on different standards of proof.

What technique is this, and how does it work?

This action is tagged with one technique in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

• Price manipulation — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2023-12-04 ASIC media release

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• ASIC media release

The linked release is published by the issuing regulator under its own terms. Our summary and narrative above are our own writing.

Same matter

The library links these 2 records because they appear to concern one matter: the same lead defendant, an overlapping technique tag and close filing dates, or a shared court docket or a release that cites the other. Records are listed by date filed.

This grouping is the library's, made by matching names, techniques, dates and citations when the site is built. It is not the regulator's or a court's determination that the records are one case, and it errs towards missing a link rather than making a false one.

Related actions

Other actions in the library sharing at least one technique tag with this one.

Record added September 10, 2026. submit a correction.