The Central Bank of Russia found that Vadim Solomakhin, chief executive and beneficial owner of Kinetic Capital, manipulated trading in three Russian companies’ shares and two federal government bonds on Moscow Exchange during the first quarter of 2026. The regulator issued Solomakhin a binding cease and desist order, directed professional securities market participants and trading organizers to suspend transactions through his brokerage accounts, and referred the violations to law enforcement agencies. Solomakhin used his personal brokerage account and his access to Kinetic Capital’s account to conduct more than 120 offsetting transactions. He placed personal orders and then submitted opposite company orders designed to move market prices and close his personal positions, causing significant deviations in prices and trading volumes. The transactions involved shares of Sberbank, Sovcombank and Surgutneftegas, as well as OFZ-PD 26230 and OFZ-PD 26243 bonds. They generated profits for Solomakhin and corresponding losses for Kinetic Capital, which manages assets of the Kinetic Portfolio closed-end unit investment fund.
Central Bank of Russia finds Kinetic Capital owner manipulated stocks and government bonds, orders account suspensions
The Central Bank of Russia found that Kinetic Capital chief executive and owner Vadim Solomakhin manipulated stocks and government bonds through more than 120 transactions between his personal and company accounts. It ordered him to cease similar violations, directed market participants to suspend transactions through his brokerage accounts and referred the case to law enforcement.