{"id":8987,"date":"2026-01-24T14:45:40","date_gmt":"2026-01-24T06:45:40","guid":{"rendered":"https:\/\/fdlaw.com.tw\/?p=8987"},"modified":"2026-01-24T20:58:27","modified_gmt":"2026-01-24T12:58:27","slug":"stock-manipulation","status":"publish","type":"post","link":"https:\/\/fdlaw.com.tw\/en\/blog\/stock-manipulation\/","title":{"rendered":"The first-generation &quot;young stock market genius,&quot; Hsiao Han-sen, was released on bail of NT$15 million with three restrictions on his investment activities. Lawyer Li Yu-sheng explains the elements and criminal liability of the crime of stock manipulation under the Securities and Exchange Act."},"content":{"rendered":"<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"The first-generation &quot;young stock market genius&quot; Hsiao Han-sen was released on bail of NT$15 million and placed under three restrictions for stock speculation | # Mirror News\" width=\"1290\" height=\"726\" src=\"https:\/\/www.youtube.com\/embed\/AdG7YRUczBw?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p class=\"has-medium-font-size\"><br><strong>First-generation &quot;young stock market genius&quot; Hsiao Han-sen, implicated in stock speculation, released on bail of NT$15 million with three restrictions imposed | Mirror News reporter Kung Pin-rou<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">News link:<a href=\"https:\/\/youtu.be\/AdG7YRUczBw?si=PIy9lAeP3cF7jODV\" target=\"_blank\" rel=\"noopener\">https:\/\/youtu.be\/AdG7YRUczBw?si=PIy9lAeP3cF7jODV<\/a><\/p>\n\n\n\n<p class=\"has-medium-font-size\">Hsiao Han-sen, known as Taiwan&#039;s first-generation teenage stock market genius, was accused of illegally manipulating the stock prices of seven listed companies. He was released on bail of NT$15 million and restricted from leaving the country and from residing abroad.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">According to lawyer Li Yusheng of Fidelity Law Firm, the suspect in this case intended to influence the value of stock trading by artificially interfering, which constitutes the crime of manipulating stock prices under the Securities and Exchange Act. The most serious penalty is 10 years imprisonment and a maximum fine of NT$200 million. The court has currently set bail at NT$15 million, but considering that he may have obtained more than NT$40 million in illegal profits, the bail amount may still be slightly too low.<\/p>\n\n\n\n<style>\r\n\/* \u5bb9\u5668\u8a2d\u5b9a\uff1aRWD \u97ff\u61c9\u5f0f\u6392\u7248 *\/\r\n.fd-cta-container {\r\n    display: flex;\r\n    justify-content: center; \/* \u5c45\u4e2d\u5c0d\u9f4a *\/\r\n    gap: 20px; \/* \u6309\u9215\u4e4b\u9593\u7684\u9593\u8ddd *\/\r\n    flex-wrap: wrap; \/* \u624b\u6a5f\u7248\u81ea\u52d5\u63db\u884c *\/\r\n    margin: 30px 0; \/* \u4e0a\u4e0b\u7559\u767d *\/\r\n    font-family: -apple-system, BlinkMacSystemFont, \"Segoe UI\", Roboto, \"Helvetica Neue\", Arial, sans-serif;\r\n}\r\n\r\n\/* \u6309\u9215\u5171\u7528\u57fa\u5e95\u6a23\u5f0f *\/\r\n.fd-btn {\r\n    display: inline-flex;\r\n    align-items: center;\r\n    justify-content: center;\r\n    padding: 12px 32px;\r\n    font-size: 16px;\r\n    font-weight: 600;\r\n    text-decoration: none !important; \/* \u79fb\u9664\u5e95\u7dda *\/\r\n    border-radius: 50px; \/* \u5713\u89d2\u81a0\u56ca\u9020\u578b *\/\r\n    transition: all 0.3s ease; \/* \u5e73\u6ed1\u904e\u6e21\u6548\u679c *\/\r\n    letter-spacing: 1px; \/* \u5b57\u8ddd\u5fae\u8abf *\/\r\n    box-shadow: 0 4px 12px rgba(0, 0, 0, 0.1); \/* \u7cbe\u7dfb\u9670\u5f71 *\/\r\n    line-height: 1.2;\r\n    cursor: pointer;\r\n    position: relative;\r\n    top: 0;\r\n}\r\n\r\n\/* \u6309\u9215\u61f8\u6d6e (Hover) \u5171\u540c\u6548\u679c *\/\r\n.fd-btn:hover {\r\n    transform: translateY(-3px); \/* \u5411\u4e0a\u6d6e\u8d77 *\/\r\n    box-shadow: 0 8px 20px rgba(0, 0, 0, 0.15); \/* \u52a0\u6df1\u9670\u5f71 *\/\r\n}\r\n\r\n\/* 1. \u96fb\u8a71\u6309\u9215\u98a8\u683c (\u6df1\u85cd\u8272\u5be6\u5fc3 - \u53f3\u5074) *\/\r\n.fd-btn-phone {\r\n    background: linear-gradient(135deg, #0f2b5c 0%, #1e3a8a 100%); \/* \u6df1\u85cd\u6f38\u5c64 *\/\r\n    color: #ffffff !important;\r\n    border: 2px solid transparent; \/* \u9810\u7559\u908a\u6846\u7a7a\u9593 *\/\r\n}\r\n\r\n.fd-btn-phone:hover {\r\n    background: linear-gradient(135deg, #163673 0%, #26469e 100%);\r\n    color: #ffffff !important;\r\n}\r\n\r\n\/* 2. 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