A former sales trader at Legal & General's investment management arm and a broker are the latest defendants to face charges in the Financial Services Authority's (FSA) biggest insider-trading investigation.
Paul Milsom and Graeme Shelley will make their first court appearance at Westminster magistrates' court on Wednesday as part of a criminal probe that accuses the pair of insider trading offences, according to the Financial Times.
Shelley, a former broker a Novum Securities, was one of seven suspects arrested in March 2010 after a series of dawn raids at the homes of employees of institutions including Deutsche Bank and Moore Capital.
The raids were conducted by the FSA, with assistance from the Serious Organised Crime Agency, in an operation codenamed Tabernula, which is Latin for "little tavern".
At least two further suspects have been arrested since then, including Milsom in February of last year following dawn raids in Kent and London.
Five defendants have already been charged in connection with the probe, the FSA's largest to date in terms of both the numbers of suspects and the amount of profit made by the alleged insider dealing. None of those defendants have formally entered a plea - their case continues with any trial not due to start until early 2014.
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