Prosecutors: Ex-Moore Man Rifat Insider-Traded Eight Cos.

Jan 29 2014 | 10:32am ET

Former Moore Capital Management trader Julian Rifat was formally charged with fraud today, with prosecutors offering details about his alleged insider-trading for the first time.

Rifat, who was an execution trader at Moore, was arrested four years ago. He is the ninth person—of the 10 arrested—to be charged in the case.

According to prosecutors, Rifat traded on illicit information about eight companies, among them Barclays and Volkswagen. Rifat spoke only to confirm his name at today's hearing, during which his case was transferred to a higher court.

Rifat will be back in court on Feb. 12.

Last year, Rifat sought and won a court order for the U.K. Financial Conduct Authority to either bring charges against him or end its probe. The 10th suspect in the case, former BNP Paribas employee Clive Roberts, remains under investigation.

Two of the charged have pleaded guilty. One, Aria Capital's Iraj Parvizi, has pleaded not guilty; the other five had not entered pleas.

In Depth

Caliber: Making the Most Out of Marketing and Public Relations

Oct 5 2016 | 7:09pm ET

It has never been harder for small to medium-sized alternative investment firms...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...