It will be interesting to see what price the Financial Services Board puts on the alleged market manipulation of the Oakbay share price by the Gupta family.
I ask this given on the same day the news broke of the Gupta family lending money to a Singapore firm to trade up the equities, so stock market artist James Gubb was giving details on his R100k fine over R400 worth of trades on the same stock.
Gubb’s motifs were different however, he merely wanted to trade an ‘up yours’ sign in protest of the family that’s almost single handedly thrown South Africa to the dogs.
Gubb’s fine was 250 times the value of the trade, and if the same logic is applied to the Guptas the fine would be around $250m – but given they loaned the Singapore firm $1m to trade Oakbay stock and traded for profit not protest, surely if proven it should be higher.
That would go a little way in recuperating some of the billions of Rands South African taxpayers have lost to Gupta-inspired state capture.
