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CEO of Axius indicted in US over stock manipulation claims

Roland Kaufmann, the CEO of Axius Inc. has been indicted in a US federal court in New York on charges he participated in a scheme to bribe brokers and manipulate the share price of the Dubai-based firm, Bloomberg has reported. Kaufmann was charged, along with Swiss financial professional Jean-Pierre Neuhaus, with conspiracy to commit securities fraud, wire fraud, money laundering and other crimes. Kaufmann and Neuhaus are accused in the indictment of trying to artificially inflate the value of Axius stock by enlisting a person who they believed would direct a group of corrupt stockbrokers to buy shares in exchange for kickbacks of as much of 28%. "Rather than rely on the market to set the true value of Axius stock, the defendants allegedly sought to buy the best price possible through bribery and deception," US Attorney Loretta Lynch in Brooklyn said.