The Moscow Stock Exchange reported on a possible money laundering plan through the platform’s infrastructure. Irina Grekova, General Director of Compliance and Business Ethics of the Moscow Stock Exchange, spoke about this, Vedomosti writes.
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The proposed scheme is as follows: a legal entity opens a brokerage account and purchases illiquid securities at an auction. After which the price increases with the help of Telegram channels.
The legal entity then transfers assets to a natural person outside of the exchange platform. There is no actual payment, but a purchase and sale agreement is concluded.
The retail investor then deposits funds into his own brokerage account, then sells them, receives “legal” income, and finally withdraws funds from the account.
In the future, these transactions could be used for illegal purposes, including cryptocurrency payments, Grekova added. The Moscow Stock Exchange plans to combat the emergence of such schemes by creating correct prices.
Rustam Kurmaev and Partners partner Dmitry Gorbunov noted that the advantage of the plan for its participants comes down to the reduction of processing risk. He also reminded that market manipulation alone can lead to prison sentences of up to seven years and a fine of up to 1 million rubles.
- It was previously known that the Moscow Stock Exchange intends to carry out the first placement on the platform for raising over-the-counter capital in the second quarter of 2024. Until the end of 2024, five pre-IPO transactions for a worth between 200 million and one billion rubles.
Author:
Karina Pardaeva
Source: RB
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