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: US charges Russian billionaire Tinkov with tax fraud

Article - Media, Publications

US charges Russian billionaire Tinkov with tax fraud

Pedro Gonçalves, 09 March 2020

Tinkov stands accused of concealing $1bn in assets and income from the US tax authorities at the time when he renounced his US citizenship in 2013, which required him to report his assets following a stock market flotation in London, the Department of Justice said. Continue reading “Article: US charges Russian billionaire Tinkov with tax fraud”