ST. PETERSBURG, September 1 (RAPSI, Mikhail Telekhov) — The St. Petersburg City Court has released from the imposed punishment former head of the stock exchange operations directorate for the financial markets department of Baltinvestbank Andrey Kornilov, the United Press Service of St. Petersburg Courts informs RAPSI.

In October 2020, the man was found guilty of manipulating the securities market and causing damage to the credit institution in the amount of 12 million rubles (about $164,000 at the current exchange rate) and sentenced to two years of probation by a district court in St. Petersburg.

The St. Petersburg City Court as an appellate instance changed the verdict. Kornilov was released from the imposed punishment due to the expiration of the statute of limitations for criminal prosecution. The rest of the sentence was left unchanged, respective appeals were dismissed, the press-service said.