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.

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