Tory donor fined for insider trading

TROUBLED oil services provider Petrofac has been embroiled in further scandal with its chief executive fined for insider dealing.

Embattled boss Ayman Asfari, 59, a Tory donor and government business ambassador, has been fined £276,000, banned from heading Italian companies and issued a property confiscation order worth £345,000.

Authorities concluded Asfari traded securities in a company after getting information from an executive, Petrofac said. He disputes the findings and has pledged to fight his case.

Petrofac is under investigation by the Serious Fraud Office for suspected corruption as part of a probe into engineering firm Unaoil.