Julian Rifat Receives 19-Month Jail Sentence for Insider Trading

Mar 19 2015 | 12:57pm ET

He was once named on a list of "Institutional Investors that Matter." Now, Julian Rifat's name will appear on a list of jail inmates.

The ex-Moore Capital execution trader received a jail sentence of 19 months from a London judge on Thursday after his insider-trading conviction.

Rifat pled guilty in November to insider trading charges after it was revealed that he traded on illicit information about eight companies, among them Barclays and Volkswagen..

Moore was arrested five years ago on his 41st birthday. His case was one of the most high-profile investigations by the U.K. Financial Conduct Authority. Rifat's case was part of a wider insider-trading probe in the U.K., dubbed Operation Tabernula (translated "Little Tavern" in Latin).  

During the investigation it was revealed that Rifat passed inside information to Novum Securities broker Graeme Shelley. Shelley traded on the tips using spread bets and split profits with Rifat.

Shelley pled guilty last March to insider trading, and received a two-year suspended sentence. According to reports, the two earned roughly 285,000 pounds ($420,000) by trading on Rifat's tips.

In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...


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

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...