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Brothers Fined €3 Million for Manipulating Ebusco Share Prices

Investment company VDVI BV, owned by brothers Bas and Bob van den Nieuwenhuijzen, has been fined €3 million for manipulating the share prices of electric bus manufacturer Ebusco. The Dutch financial regulator AFM reported that the brothers artificially inflated the share price by simultaneously selling and purchasing shares. They argue that their actions had a negligible effect. The brothers, linked to the hotel family Van den Valk, collectively owned over 23% of Ebusco’s shares.

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