Ex-Deutsche Bank Head Russia Trader Accused of Stock Rigging
- Bank of Russia says Khilov made $4 million for family accounts
- Case is unrelated to German bank’s Moscow mirror-trade scandal
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Yuri Khilov, the former head of Deutsche Bank AG’s Russian equity-trading desk, allegedly earned more than $4 million by engaging in market manipulation from 2013 to 2015, using accounts that he opened in his relatives’ names.
Khilov is accused of booking trades in the name of the lender’s London office and then buying and selling stocks for his relatives within minutes, “earning a positive financial result” at the expense of his employer, the Bank of Russia said in a statement Tuesday. The central bank said it worked on the investigation with Germany’s Bafin regulator, which declined to comment. Khilov, who has since left the bank, also declined to comment.