Richard Joseph was sentenced to four years for using price sensitive information to cash in on a series of takeover bids. Joseph, a former futures trader, was passed confidential documents by Ersin Mustafa, a print room manager at JP Morgan Cazenove.
Mr Mustafa also passed inside information to a separate group of six people who were convicted of insider dealing last summer, according to the Financial Services Authority. Pay as you go mobile phones and online “drop boxes” were used to pass documents to Joseph. He then used this inside knowledge to trade in shares in the brewer and pub retailer Greene King, material manufacturer Fiberweb and engineering firm IMI.
‘Enforcement 40’ for 2020
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