The Financial Services Authority (FSA) has successfully prosecuted a two-timing investment banker for insider dealing.
The banker, Thomas Ammann, pleaded guilty to two counts of insider dealing and 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.
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.
Ammann was working at Mizuho International plc (MIP) while 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.
Following the announcement of the acquisition, both Weckwerth and Mang sold their shares for a substantial profit. Weckwerth made €1m and Mang made £29,000 - both shared half their profits with Ammann.
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