Russia's First Criminal Case on Stock Price Manipulation

Law enforcement authorities have initiated first-ever stock market price manipulation case in the aftermath of a federal investigation of trading of Tatar company shares on the Moscow Stock Exchange, according to Russia's Federal Service for Financial Markets. Tatbento, the subject of the investigation, is supposedly involved in the production of clay and kaolin, constructing prefabricated buildings, and manufacturing ceramic tiles and bricks. According to investigators, however, the company carried out no commercial activity.  Regulators reported that several individuals, including the company's founder, manipulated share prices between September and December 2010. "The price of ordinary shares increased by 50 percent," the federal service said. "An examination was held after a bid participant made a statement (in this regard), and regulator discovered signs of manipulation through its monitoring system." The federal law on combating the unlawful use of insider market information and manipulation came into effect on January 27, 2011.

http://www.rapsinews.com/news/20120822/264367560.html
http://www.rbcdaily.ru/2012/08/22/finance/562949984564784
http://www.fcsm.ru/ru/press/interviews/index.php?id_3=8657&year_23=2012&month_23=8