The Financial Services Authority (FSA) has closed its first criminal case for insider trading, with former TTP Communications general counsel Christopher McQuoid and his father-in-law James William Melbourne found guilty. The duo had been accused of insider trading ahead of an £103m offer made by communications company TTP for Motorola in 2006. The case, heard at Southwark Crown Court, found that McQuoid had passed the information on to Melbourne, who then traded and made a profit of £48,919. The court heard that Melbourne had split the profits with McQuoid three months later.
March 27, 2009 at 01:06 PM
1 minute read
The original version of this story was published on Legalweek
The Financial Services Authority (FSA) has closed its first criminal case for insider trading, with former TTP Communications general counsel Christopher McQuoid and his father-in-law James William Melbourne found guilty.
The duo had been accused of insider trading ahead of an £103m offer made by communications company TTP for Motorola in 2006.
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