Aalto professor Vesa Puttonen charged with market manipulation

Aalto University finance professor Vesa Puttonen has been charged with market manipulation, Yle reported. The charge was filed with the Helsinki District Court in late October.

The alleged offence took place in 2021 and 2022, according to the court. It is not yet known when the case will be heard.

Puttonen told Yle by phone that he denies the charge. “I categorically deny it,” he said, declining to comment further at this stage.

Market manipulation is a rare criminal charge in Finland, with only a few related crime reports recorded in recent years. Yle does not know the specific allegations against Puttonen. The offence can include placing an order or making a transaction that creates a false or misleading impression of a financial instrument’s supply, demand or price. It can also involve spreading information, including through the media, to gain a financial benefit for oneself or another person.

Market manipulation is punishable by a fine or up to two years in prison. Puttonen is one of Finland’s best-known experts on investing and financial markets and has published research and books on the subjects.