Man appears at court for destruction of documents offence in the UK
Publish date: 13 September 2019
Issue Number: 89
Diary: CompliNEWS
Category: Criminal
In a prosecution brought by the UK's Financial Conduct Authority (FCA), Konstantin Vishnyak recently appeared at Westminster Magistrates’ Court in relation to one count of destroying documents which he knew or suspected were or would be relevant to an investigation.
Mr Vishnyak pleaded not guilty. The proceedings have been transferred to Southwark Crown Court where Mr Vishnyak will appear on 4 October 2019. Mr Vishnyak has been granted bail until that hearing.
This is the first prosecution by the FCA in relation to a destruction of documents offence under the Financial Services and Markets Act 2000.
Mr Vishnyak was under investigation by the FCA for suspected insider dealing offences. The FCA alleges Mr Vishnyak deleted the WhatsApp application on his mobile phone after he was required to provide it as part of the investigation.
Under s 177(3)(a) of the UK's Financial Services and Markets Act 2000, a person who knows or suspects that an investigation is being or is likely to be conducted under Part XI of that Act 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.
