An investment banker, his wife and a close friend have pleaded guilty to eight counts of insider dealing in a case brought to court by the FSA.
Christian Littlewood, a former employee of Dresdner Kleinwort, the investment banking arm of Commerzbank AG, his wife Angie Littlewood and Helmy Omar Sa'aid allegedly made £590,000 profit from the trades.
Full sentencing for the trio and a confiscation hearing will now take place in the week commencing 31 January.
The Littlewoods were arrested in March 2009 by the City of London Police for offences relating to trading in a number of different London Stock Exchange and AIM listed shares between 2000 and 2008.
A European arrest warrant in Mayotte, one of the Comoros Islands, led to the return of Omar Sa'aid to the UK in March 2010.
Margaret Cole, the FSA's managing director of enforcement and financial crime, says: "It seems that the penny is beginning to drop. These guilty pleas show that our strategy of a tough approach to insider dealing - and, in particular, demonstrating that we are prepared to fight difficult criminal prosecutions to trial - is paying off.
"Dedicated hard work, bold and innovative use of the tools at our disposal and close seamless co-operation between our markets, enforcement and intelligence functions underpin our successful track record in this complex area."
The guilty pleas mark the sixth successful prosecution for insider dealing bought by the FSA as part of its effort to tackle market abuse, while another 12 individuals are currently also being prosecuted.
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