In a case brought by the Financial Conduct Authority (FCA), Konstantin Vishnyak has been found not guilty at Southwark Crown Court of one count of destroying documents in September 2018.
The FCA is disappointed with the outcome, but respects the verdict. We will take action whenever evidence we need is tampered with or destroyed.
Notes to editors
- Konstantin Vishnyak’s date of birth: 02/08/1978.
- Under section 177(3)(a) of the Financial Services and Markets Act 2000 (FSMA), a person who knows or suspects that an investigation is being or is likely to be conducted under Part XI of FSMA is guilty of an offence if he falsifies, conceals, destroys or otherwise disposes of a document which he knows or suspects is or would be relevant to such an investigation, unless he shows that he had no intention of concealing facts disclosed by the documents from the investigator. This is a criminal offence punishable, on conviction, by a fine and/or up to 2 years’ imprisonment.
- FSMA gives the FCA powers to investigate insider dealing, defined by the Criminal Justice Act 1993.
- Individuals with information about market abuse can call the FCA on freephone 0800 111 6768.
- Find out more about the FCA.
- Due to the current coronavirus (Covid-19) pandemic, this prosecution took place at a 'Nightingale court', with Southwark Crown Court sitting at Prospero House.