Even giants like Deutsche Bank are not immune to fraud and insider manipulation.
The Bank of Russia has published details of the investigation into the manipulation of employees of Deutsche Bank. The Bank of Russia sent all the necessary documents in the case of Yuri Khilov, which became sensational last spring.
Together with the Federal Financial Supervisory Authority of Germany, the Central Bank of the Republic of Belarus established that there was a manipulation of markets on the Moscow Exchange. As a result of manipulations, a group of people (Igor and Tatiana Novikov and Natalia and Yuri Khilov) made a profit by damaging Deutsche Bank London. Moreover, the trades led to deviations in the trading of certain securities.
The Khilov family bought or sold a package of securities, and then put up an application for a reverse transaction in the same volume. Yuri Khilov on behalf of Deutsche Bank London Branch entered into transactions with the same securities. The direction of the transaction was always concluded taking into account the fact that the profit went to individuals. Thus, relatives mothed to buy and sell securities, making money on it.
The total amount of income exceeded 255 million rubles.
The case has been going on since May last year. At first, it was believed that one of the managers of the Bank of Russia was engaged in fraud, and only recently it turned out that a group of people was involved in the case.
