Business
ASX exec sentenced to jail for WhatsApp market manipulation – The Motley Fool Australia
Damning WhatsApp messages show Ananda Kathiravelu artificially inflating the share price of the company now known as Weebit Nano.
A director involved in the reverse listing of Weebit Nano Ltd (ASX: WBT) has been sentenced to 12 months jail for illegal market manipulation.
Ananda Kathiravelu of Perth had in August pleaded guilty to conspiracy to commit an offence of market manipulation.
On Monday, the Supreme Court of Western Australia sentenced him to 12 months imprisonment. He was released on $10,000 recognisance for 7 months of good behaviour.
Kathiravelu was a director of Radar Iron Limited, an iron ore mining company…
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