Russia's stock market watchdog, the Federal Financial Markets Service (FFMS), has uncovered manipulation in trading in bonds issued by Russia's largest high-tech company Sitronics, the service said on its Twitter page on Wednesday.
"The people who manipulated the prices of the securities will be administratively liable in accordance with law," the service said. "The FFMS will publish information on those people following imposition of administrative punishment."
A check by the service revealed 48,000 suspicious signs in bond trades for Metallservice-finance, a subsidiary of the country's top metals trade and storage firm, Setl Group financial and industrial holding company and little-known firms registered in the Urals, the service said in a statement.
A quarter of the deals were qualified as price manipulation, about 50 percent as wash transactions, 20 percent as price retention, four percent as insider trading and one percent as false transactions.
Signs of price manipulation with bonds from private Investtradebank and Tatfondbank, which is based in the Tatarstan republic, were also registered by the service.
MOSCOW, May 25 (RIA Novosti)
