SHARE MANIPULATION at AVANGARD BANK

The Federal Service for Financial Markets (FSFM) detected manipulation of ordinary shares in Joint Stock Bank AVANGARD (the Bank) on MICEX stock exchange for the period from December 2011 until May 2012. It is reported that certain clients of some professional participants of the financial market made a number of transactions with one another in the shares of the Bank which resulted in significant deviation from the market parameters, including the price. The actions were performed on behalf and at the expense of one person (i.e. were cross-transactions). The FSFM said that the manipulator would be subject to administrative liability and the materials on this case may be sent to law enforcement bodies.  

GENERAL PROSECUTOR'S OFFICE WILL SEEK TO BRING BEREZOVSKY'S ASSETS BACK TO RUSSIA

Russia’s Deputy General Prosecutor, Alexander Zvyagintsev, reported that the Russian Government would continue its efforts to bring back into Russia Berezovsky's assets. The oligarch was accused of committing a series of major economic crimes acting as a part of a transnational criminal group. The Russian Criminal Code provides for the seizure of assets of a person who set up or participated in a criminal group, said Mr Zvyagintsev.