News Column

Rifat becomes ninth man to be charged in insider trading probe

January 30, 2014

CITY A.M. REPORTER

JULIAN Rifat, a former equity trader at US hedge fund Moore Capital , was charged in London yesterday in connection with Operation Tabernula, Britain's largest insider dealing investigation. Almost four years after his arrest, 44-year-old Rifat sat in the dock accused of eight counts of passing confidential, price-sensitive information to an accomplice to his "significant advantage". He is the ninth person to be charged as part of the investigation. The regulator now known as the Financial Conduct Authority started probing what it called a sophisticated insider dealing ring in 2007 and made its first arrests in 2010. Rifat, who remains on unconditional bail, did not indicate a plea in the brief hearing and was ordered to appear before Southwark Crown Court on 12 February.


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Source: City A.M. (UK)


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