In London began a trial of the traders, who according to the charges taken out of financial Corporation “Opening” in excess of $100 million by making illegal transactions with securities of Argentina and the machinations of bonuses to employees, writes the Financial Times. According to Bloomberg, in court the prosecution said that one of the accused, the former managing Director and head of the international unit of operations with debt instruments, one of the structures of the company George Urumov, spent part of the money to buy a house in a prestigious district of London — the so-called millionaires (Millionaires’ Row).
All are three people: Urumov, his former colleague Alessandro Hertz and Vladimir Gersamia of company Threadneedle Asset Management Ltd, the Agency said.
FK “Opening” has filed a lawsuit in a London court to Urumovo 6 October 2011. As argued by the Bank, the Manager made illegal trades with debt securities of Argentina. Urumov also violated the labor law by agreeing on the so-called golden hellos (bonuses that an employee receives when moving from a competing firm) for himself and four other employees, who in the fall of 2010 agreed to move from Knight Capital in a subsidiary – “Opening” — the company Otkritie Securities Ltd (OSL) — under the leadership Urumova, claimed the Bank. These staff members were Alessandro Hertz, was appointed head of international sales, and Director positions of international sales Jamil Mufti, Alice Magic and Nipan ramya. The Bank claims that Urumov has informed the Corporation and the OSL that he and his employees agreed to $5 million each, but in reality they received much less money, with the result that Urumov has appropriated $23 million according to Bloomberg, the prosecution claims that after this Urumov bought a house on the “street of millionaires” for £19 million pounds ($24.7 million).
Claims to Urumovo from the Bank exceed $160 million At the same time, celebrated the Opening of its transactions did not seriously damage the stability of the Corporation: the Corporation expected that the maximum possible amount of losses will be less than the expected profit of “Opening” in 2011. The Corporation expects that the outcome of the investigation and the court will return to her withdrawn from her assets.
The decision of the London court Urumova assets were frozen. He was arrested but was subsequently released on bail under his own recognizance.
To review FK “Opening” at the time of publication failed.