The FSA has obtained a High Court injunction against a number of companies and individuals who made more than £1m from manipulating the market in UK shares.
It has issued proceedings against Da Vinci Invest Ltd, a UK-registered but Swiss-based fund manager, a related Singapore-based company Da Vinci Invest PTE Ltd and Seychelles-registered Mineworld Ltd. Proceedings have also been issued against Szabolcs Banya, Tamas Pornye and Gyorgi Brad - all of whom are resident in Switzerland and/or Hungary - who traded on behalf of those companies. The FSA believes the companies and individuals committed market abuse by engaging in a form of manipulative trading known as "layering", which created a misleading impression of the supply and demand of s...
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