Bank of Russia cancels qualification certificates of notorious Kim Karapetyan

The Bank of Russia finally made a move to cancel the qualification certificates of Kim Karapetyan, the notorious chief executive of BlackField Capital, once an algo trading company based in Moscow.

The Russian “Megaregulator” announced today that Mr Karapetyan is no longer qualified as “a financial market specialist in broker, dealer and securities management activities”. The regulator explained that the decision is made because of Mr Karapetyan’s repeated and grave violations of the securities laws of the Russian Federation.

BlackField Capital ceased operations in October 2014, with the clients’ money and the CEO of the company, Kim Karapetyan, suddenly disappearing.

While active, the company promised its clients returns of up to 60% thanks to what the management dubbed super-successful algorithmic trading strategies, based on scientific methods. Karapetyan claimed he a scientist and an ex-portfolio manager at Morgan Stanley. A report by the WSJ said there was not such an employee on record at Morgan Stanley.

Mr Karapetyan has led lavish life in Russia and the United States, buying luxurious cars and property on a regular basis.

In April last year, the Bank of Russia annulled the licenses of BlackField Capital.

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