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Russia Central Bank Alleges Deutsche Banker Manipulated Markets

Russia Central Bank Alleges Deutsche Banker Manipulated Markets

Russia’s central bank alleged that a banker at Deutsche Bank’s Russian branch had manipulated markets by conducting 300 billion rubles ($4.87 billion) of trades with relatives over the span of two and a half years. The trades which were done during Jan 2013 & July 2015 generated a profit of 255 million rubles for the employee Yuri Khilov and three relatives.

“Russia’s central bank alleged that a banker at Deutsche Bank’s Russian branch had manipulated markets by conducting 300 billion rubles ($4.87 billion) of trades with relatives.”

~ Reuters

The central bank has alleged that Khilov and relatives had manipulated trading on eight securities on Moscow Exchange. The findings are going to be an issue for the bank which recently cut back its investment banking in Russia.

Related Reports: Reuters, Wall Street Journal

 


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