Article: Russian central bank blocks effort by private investors to coordinate on stocks via Telegram

Article - Media, Publications

Russian central bank blocks effort by private investors to coordinate on stocks via Telegram

Alexander Marrow, 10 March 2021

MOSCOW (Reuters) – Russia’s central bank said on Wednesday it had ordered brokers to block the accounts of more than 60 private investors it suspected of coordinating in a Telegram channel to try to raise the share price of an electric utilities firm.

In a development reminiscent of lurches in U.S. video game retailer GameStop’s stock price in January, the regulator said it had detected non-market pricing on Friday in shares in MRSK Yuga, a Rosseti portfolio company.

The central bank said it had sent instructions to Sberbank, VTB, Tinkoff, Alfa Bank, Otkritie Broker, BCS and Aton to suspend deals and operations on organised trading for individual clients. Continue reading “Article: Russian central bank blocks effort by private investors to coordinate on stocks via Telegram”

Article: Hogan Lovells Delivers Victory in $150 Million Fraud Case for Leading Russian Financial Group Otkritie

Article - Media, Publications

Hogan Lovells Delivers Victory in $150 Million Fraud Case for Leading Russian Financial Group Otkritie

Legal Monitor, 12 February 2014

London’s High Court has delivered its judgment today on a multi-million dollar fraud against Otkritie, one of the largest financial services providers in Russia. Otkritie was defrauded by a group of former employees and their associates. Today’s judgment paves the way for the recovery of millions in already frozen assets and awards significant damages to Otkritie. Hogan Lovells has advised Otkritie throughout the dispute. Continue reading “Article: Hogan Lovells Delivers Victory in $150 Million Fraud Case for Leading Russian Financial Group Otkritie”