FSA Obtains High Court Injunction Against Market Manipulation

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On September 1, the UK Financial Services Authority (FSA) announced that it had obtained an interim High Court injunction preventing a number of companies and individuals from market manipulating in respect of certain UK-listed shares.

The FSA’s injunction was against Da Vinci Invest Ltd, a UK incorporated but Swiss-based fund manager, a related Singapore-based company Da Vinci Invest PTE Ltd, and Mineworld Ltd, registered in the Seychelles, together with three individuals Szabolcs Banya, Tamas Pornye and Gyorgi Brad (each of whom is a resident of Switzerland and/or Hungary) who traded on behalf of those companies.

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