A former analyst at asset manager Janus Henderson has been charged along with four others with conspiracy to commit insider dealing and money laundering from which they pocketed £1.5m.
Redinel Korfuzi, 35, has been charged with offences that occurred between 17 December 2019 and 25 March 2021.
The Financial Conduct Authority has alleged that Mr Korfuzi used confidential inside information he accessed as an analyst in his former role at Janus Henderson to profitable trading in 49 companies through accounts held by his co-conspirators.
The other four alleged conspirators are Oerta Korfuzi, 34, Iva Spahiu, 34, Rogerio de Aquino , 61,and Dema Almeziad, 37. The FCA has started criminal proceedings against the five individuals for conspiracy to commit insider dealing and money laundering.
In each case, the defendants used a contracts for difference in relation to each of 49 companies, betting that the value of shares would go down after the announcements.
In doing so, they made profits of approximately £1.5m.
All five are also charged with money laundering offences relating to more than 170 cash deposits totalling approximately £200,000.
In March 2021 a multi-site search and arrest operation was conducted by the FCA with the assistance of the Metropolitan Police, and four of the defendants were on police bail until they appeared before Westminster Magistrates’ Court on Wednesday 25 January.
The case was formally sent to Southwark Crown Court, where the defendants will appear on 22 February 2023 for a plea and case management hearing. All the defendants have pleaded not guilty.
Janus Henderson has co-operated fully with the FCA’s investigation.
Insider dealing is punishable by a fine and/or up to seven years’ imprisonment for offences that occurred during the period of these alleged offences.
For offences committed on or after, 1 November 2021, the maximum sentence for insider dealing is a fine and/or up to 10 years’ imprisonment.
Money laundering is punishable by a fine and/or up to 14 years’ imprisonment.
