Tag: financial scam

March 30, 2016 BY Maria Nikolova

Russia introduces prison sentences for financial scammers

Organizers of financial pyramids in Russia risk spending up to six years in prison and paying hefty fines, under amendments to the Criminal Code signed today by Russia's president Vladimir Putin. The new penalties are introduced after earlier this month Putin signed another law that introduced fines for those who support financial pyramids by presenting them…

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February 02, 2016 BY Maria Nikolova

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…

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