Saturday, 20 December 2014
Last updated 1 day ago
Apr 28 2010 | 1:04pm ET
A former hedge fund trader has been charged with insider trading in the latest case brought by an increasingly active U.K. Financial Services Authority.
Anjam Ahmad, formerly of hedge fund AKO Capital, has been charged with conspiracy to commit insider trading. London-based AKO said the trades in question were personal and that the hedge fund has not been charged with any wrongdoing.
“The charges relate to Mr. Ahmad’s activities in a personal capacity,” the firm said in a statement. “AKO Capital has not been a subject of the investigation and there has never been any suggestion of any involvement by AKO Capital or any other AKO Capital personnel.”
Ahmad was arrested in January with two other men. According to authorities, the former execution trader, who left AKO in September, traded 22 different stocks based on confidential information last summer.
Charges against the other two men are still pending. The case is unrelated to another insider-trading sweep by the FSA that nabbed Moore Capital Management execution trader Julian Rifat.
If convicted, Ahmad faces up to seven years in prison. Currently free on bail, the former Citigroup investment adviser is due back in court on May 7.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.