Moore Insider Suspect Pays To Unfreeze Assets

Apr 19 2010 | 4:53am ET

The seven men arrested last month around London on suspicion of insider trading, including Moore Capital Management trader Julian Rifat, have struck deals to unfreeze their assets.

Two of the seven agreed to collateral payments of about £4 million, with the rest agreeing to put up property assets of up to £1 million each, The Telegraph reports. The men had been limited to £300 per week, or about US$450, and the freeze had extended to their homes and cars.

It is unclear whether Rifat, one of the six people questioned in the case to have been identified, had to pay £1 million or £4 million. He has been placed on administrative leave from Moore, where he worked in London.

The judge overseeing the case is believed to have twice turned down collateral offers before accepting terms amenable to both the Financial Services Authority and Serious Organized Crime Agency, who are collaborating on the investigation. The sides have been negotiating for three weeks.

According to the Telegraph, the men have been told they will learn if they’ll face charges within six months.


In Depth

U.S. Treasury Moves on Reinsurance Loophole

Apr 24 2015 | 5:11pm ET

The U.S. Treasury Department has released proposed rules aimed at limiting the ability...

Lifestyle

Puerto Rico Woos The Rich But So Far Gains Little

Apr 17 2015 | 2:45am ET

Hedge fund manager Rob Rill grins. He has just had word that U.S. financial regulators...

Guest Contributor

Starting a ‘40 Act Fund Family? Don’t Forget Your Board

Apr 30 2015 | 7:18am ET

The convergence of the hedge fund and mutual fund worlds continues unabated, as...

 

Editor's Note