New York (HedgeCo.net) – The hedge fund trader who pled guilty of conspiracy to commit insider trading in a London court yesterday has been orderes to pay about 287,000 pounds ($421,000) in fines and restitution, Bloomberg reports.
“You cooperated immediately with the authorities and were very frank about the part you played in all this,” Judge Geoffrey Rivlin said at the hearing. The insider trading was carried oul by Ahmad and an accomplice who communicated using unregistered mobile phone SIM cards, Bloomberg reported.
Ahmad was the first to deliver a guilty plea in the case where hedge fund AKO Capital’s transactions with 22 different companies between June and August last year are under scrutiny.
The charges were filed by the Financial Services Authority (FSA).
Alex Akesson
Editor for HedgeCo.net
alex@hedgeco.net
HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership in HedgeCo.net is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds!
