Two companies have been banned from trading in securities, accused of bilking legitimate companies of $100 million over the last two years, reports National Commission on Securities and Stock Market. The companies suspected of fraudulent trading are: ZNPVIF Portfolio Investments and ZNPVIF New Technologies. “Securities professionals [running] controlled investment funds issued fictitious loans to related fictitious companies” and then used the falsified accounts to withdraw funds from real companies, reads the statement by the State Security Service, or SBU.
Two companies have been banned from trading in securities, accused of bilking legitimate companies of $100 million over the last two years
