Ex-trader gets 2.5-year suspended term for securities market manipulation
MOSCOW, August 13 (RAPSI) – A court in Kazan, the capital of Russia’s Republic of Tatarstan, has passed a 2.5-year suspended sentence upon ex-trader of the bank Ak Bars Artem Lyulinsky for securities market manipulations, the Investigative Committee’s press service has stated.
Lyulinsky has been also prohibited from trade in securities for 3 years.
According to investigators, the defendant by his illegal actions has derived excessive profit worth more than 77 million rubles ($1.2 million) and caused damage estimated at over 76 million rubles to the bank.
The man has pleaded not guilty, the statement reads.