Saturday, 25 April 2015
Last updated 1 day ago
May 10 2010 | 3:46pm ET
A former trader with hedge fund AKO Capital will stand trial on insider-trading charges, a court has ruled.
The City of Westminster Magistrates’ Court has sent the case of Anjam Ahmad to trial. Ahmad, who was arrested in January, has been charged with conspiracy to commit insider-trading by the U.K. Financial Services Authority.
According to the FSA, Ahmad, an execution trader at AKO before his departure in September, traded 22 different stocks based on confidential information last summer. If convicted, he faces up to seven years in prison.
Two other men were arrested with Ahmad, neither of whom have yet been charged. London-based AKO has distanced itself from its former employee, saying that the charges relate to Ahmad’s personal trading and that the hedge fund has not been the subject of an investigation or any allegations.
Ahmad himself has yet to enter a plea. He remains free on bail, pending a hearing next week.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…