Former Cazenove partner, Malcolm Calvert, attended a pretrial hearing yesterday to face twelve charges of insider trading. According to the Times Online, the FSA alleges that Calvert made illegal trades with respect to upcoming takeovers with which Cazenove was involved between 2003-2005. Calvert retired from Cazenove in 2000.
Two witnesses gave evidence at the hearing. Since the jury was not present, the details of the testimony cannot be revealed at this point. The Times Online reports that this is the FSA’s highest profile case to date. Calvert’s jury trial is scheduled to begin on Monday.