British banker found guilty of insider dealing: FSA
In a prosecution brought by the Financial Services Authority (FSA) Thomas Ammann has pleaded guilty to two counts of insider dealing and two counts of encouraging insider dealing. Ammann will be sentenced on a date to be confirmed.
Two others, Jessica Mang and Christina Weckwerth, were today acquitted of one count of insider dealing each after a trial heard at Southwark Crown Court.
Thomas Ammann was an investment banker working at Mizuho International plc (MIP). In late 2008 and 2009 MIP was advising Canon, the multi-national technology company, on its acquisition of Océ, a medium sized Dutch company making photocopiers, scanners, related software and accessories. Ammann was one of the very small team at MIP working on the acquisition and had access to inside price sensitive information.
Ammann passed information to Weckwerth and Mang and encouraged them to trade in the shares of Océ prior to the acquisition being announced. Both considered Ammann to be their boyfriend and had no idea of the existence of the other.