Accused Hedge Fund Insider-Traded Denies Charges

Dec 10 2013 | 12:24pm ET

Aria Capital's Iraj Parvizi has pleaded not guilty to insider-trading charges.

Parvizi entered his plea in Crown Court in London on Friday. He was the only one of the six people charged with insider-trading as part of the Financial Conduct Authority's Operation Tabernula to enter a plea.

Parvizi, who lives in Dubai, and the other five were arrested in 2010 as part of the U.K.'s largest-ever insider-trading sting. A seventh person was also arrested, but has not been charged.

Four of Parvizi's co-defendants do not have lawyers, due to cuts to the U.K. legal aid budget.

The Financial Services Agency—the FCA's predecessor—and the U.K. Serious Organised Crime Agency, made the arrests and raided 16 locations in March 2010. In addition to Parvizi, a director at Aria, the arrested reportedly include Moore Capital Management's Julian Rifat, Deutsche Bank's Martyn Dobson, BNP Paribas' Clive Roberts and Novum Securities' Graeme Shelley. Parvizi is also associated with Novum.


In Depth

AIMA: Smaller Firms Remain the Lifeblood of the Hedge Fund Industry

Jul 26 2017 | 5:55pm ET

It is a hedge fund industry truism that the largest managers receive the most attention...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Rastegar: PE Real Estate Gains Momentum as Uncertainty Rises

Jul 21 2017 | 6:04pm ET

The steady march of equity markets and fundamental shift in the direction of Fed...

 

From the current issue of