FSA blocks Hungarians from 'share price manipulation'
Originally posted by 5corpio
The Financial Services Authority (FSA) has taken out a High Court injunction to stop an alleged share price scam.

The markets regulator said it had taken action against three Hungarian and Swiss residents, and the Swiss- and Seychelles-based companies they used. Szabolcs Banya, Tamas Pornye and Gyorgy Brad are suspected of making £1m profit via "layering" - placing bogus orders to artificially raise or lower prices. The injunction freezes their assets and blocks them from market manipulation.

They operated via companies named Da Vinci Invest and Mineworld from August 2010 until July this year, when the FSA says it first took out an injunction. "This injunction shows that the FSA will take swift and decisive action to protect the integrity of UK markets, wherever those seeking to....
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