The case of the false bankruptcy of the St. Petersburg Stock Exchange can be considered “close to a crime,” said Mikhail Mamuta, head of the service for the protection of consumer rights and ensuring the availability of financial services of the Bank of Russia.
“What we saw yesterday is no longer an abuse of the law, it is already close to a crime,” he said (cited by Forbes).
Mamuta added that from a market perspective on November 27, “the price manipulation was obvious.” At the same time, the representative of the regulator emphasized that the fact of manipulation will have to be proven separately.
“Perhaps, unlikely, there was an accident, due to the fact that the stars were aligned this way, but it seems that the market fell a lot, then quickly rose again, someone could have made money from it,” Mamuta said.
He also added that law enforcement agencies will investigate the filing of a bankruptcy petition and the regulator, for its part, will evaluate the case from the point of view of market manipulation. The Central Bank found it difficult to say how long the investigation will last.
- The day before, an entry about the filing of a bankruptcy petition for the St. Petersburg Stock Exchange appeared in the file of arbitration cases. The exchange itself reported that it did not present such documents to the court and later announced that it would contact law enforcement authorities and initiate an investigation into the forgery case.
- Reports about a possible bankruptcy of the St. Petersburg Stock Exchange caused its shares on the Moscow Stock Exchange to plummet by more than 30%, but the fall was recovered during the trading day.
Author:
Anastasia Marina
Source: RB
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