A statement by Dmitry Zelenko, President of BroCo Investments, claims that allegations of stock manipulation by the U.S. Securities and Exchange Commission (SEC) are a mistake. The press release states:
- “The account suspected in price manipulation in market belongs to Client of the company. The client performed his own trading and traded at his own responsibility. Our company together with Genesis only procures technical and brokerage facilities. Thus BroCo Company is not associated with trading on above-mentioned account.”
The release goes on to say that the “Russian mass media did not investigate the situation thoroughly and published wrong information”. This comes too late for BroCo Investments however as a court order was issued on Tuesday by a U.S. federal Judge in New York to freeze their assets.
My previous story from 3/18.
John "Mike" Wright