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

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...