An experienced investor's been ordered to pay the Crown nearly 200 thousand dollars - for market manipulation to increase the value of his shareholding

The Financial Markets Authority filed proceedings against Kok Ding Cheng.

It related to five orders he made for NZX-listed shares of Rua Bioscience Limited over 10-days in late 2020.

The orders ranged from 59 dollars to 540 - via an ASB Securities broking account.

The FMA argued Cheng deliberately ordered shares, to increase their price and demand - and held a material shareholding in the company.