A former trader has become the third person to be sentenced in what marked the end of the first phase of the regulator's "largest and most complex insider dealing investigation" to date.
Former senior execution trader and portfolio strategist at Moore Europe Capital Julian Rifat was jailed for 19 months and fined £100,000 at Southwark Crown Court on 19 March. He had pleaded guilty to passing inside information to an associate who then traded for their joint benefit. Rifat was also ordered to pay costs of £159,402 by Judge McCreath who found he had acted "deliberately and dishonestly" but gave him credit for his guilty plea and additional credit for his personal mitigation. Sharing spoils over pints Rifat and his associate Graeme Shelley made a profit of £285...
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