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Browse: Home / 2010 / April / 02 / UK: FSA Charges Seven with Insider Trading

UK: FSA Charges Seven with Insider Trading

By Amanda Harding on April 2, 2010, 10:09 am

On Wednesday, the FSA announced that it charged seven people with participating in an insider trading ring that made approximately £2.5 million  ($3.8 million) in illegal profits. BusinessWeek reports that the inside information was obtained from the London printers of UBS AG and JPMorgan Chase & Co.’s Cazenove unit.

The FSA charged Paresh Shah, Truptesh Patel, Pardip Saini, Neten Shah, Bijal Shah, Mitesh Shah and Ali Mustafa on 13 counts of insider trading, related to 12 companies. A warrant has also been issued for an eighth suspect, according to BusinessWeek. The defendants will appear in court on April 14.

Read the BusinessWeek article

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Posted in Global | Tagged Insider Trading, UK

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