A man convicted of insider dealing has been ordered to pay more than half a million pounds in a confiscation order.
The Financial Services Authority (FSA) today said a confiscation order of £572,283.21 has been made against Rupinder Sidhu following his conviction at Southwark Crown Court on 15 December 2011 for 22 counts of insider dealing. The sum of £572,283.21 represents Sidhu's profits from insider dealing. Sidhu, who was jailed for two years, will be liable to serve an extra five years in prison if he does not pay the amount within 28 days. Meanwhile, the FSA said it is urrently prosecuting 16 other individuals for insider dealing. The majority of trials commenced in February and April. ...
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