British banker found guilty of in­sider deal­ing: FSA

The Pak Banker - - Front Page -


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.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.