Solomakhin used client trades to profit from market manipulation
On October 16, 2026, the Bank of Russia reported market manipulation by Vadim Albertovich Solomakhin, CEO and beneficial owner of LLC KINETIC CAPITAL (TIN 9703121414). It ordered restrictions on his brokerage accounts.
Over 120 matched transactions
In Q1 2026, Solomakhin traded with KINETIC CAPITAL on Moscow Exchange in Sberbank, PJSC Sovcombank and Surgutneftegas PJSC shares and federal government bonds OFZ-PD 26230 and OFZ-PD 26243. He bought or sold through his personal account at prevailing prices, then placed offsetting orders above his purchase price or below his sale price.
Using his access to the company's account, he submitted opposite orders sized to move market prices to his personal orders' levels.
Those orders fully or partly closed his personal positions against company orders.
Over 120 transactions between the accounts generated personal profits and corresponding company losses.
The regulator found deviations in prices and trading volumes from levels absent these transactions.
Binding orders restrict account activity
The Bank of Russia classified the actions as market manipulation under Clause 2 of Part 1 of Article 5 of Federal Law No. 224-FZ.
It said Solomakhin breached the prohibition in Part 2 of Article 6 of that law.
The regulator issued him a binding order to cease and desist from similar violations.
It also sent professional securities market participants and trading organisers binding orders to suspend transactions in his brokerage accounts.
Information about the violations was forwarded to law enforcement agencies.
Licensed management meets personal dealing
KINETIC CAPITAL manages assets of the Closed-end Unit Investment Fund Kinetic Portfolio under an effective Bank of Russia licence.
Its CEO used company account access to execute trades against his personal positions.
The regulator identified company losses alongside his corresponding personal profit.