An ex-futures trader has been jailed for insider dealing after pocketing £591,000 in fraudulent deals.
In a prosecution brought by the Financial Services Authority (FSA) and heard at Southwark Crown Court, Richard Joseph, aged 43, has been found guilty of six counts of conspiracy to deal as an insider. He has been sentenced to four years on each count, which will be served concurrently. Joseph's trading resulted in a net profit of £591,117 on trading between September 2007 and July 2008. Joseph, a former futures trader, was provided with confidential and price-sensitive information from two investment banks concerning proposed or forthcoming takeover bids. The confidential and pr...
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