Consultant bailed in illegal trade case

Management consultant Rupinder Sidhu appeared in court yesterday on charges of insider trading.

The case, brought by the Financial Services Authority (FSA), relates to spread bets placed between 2008 and 2009.

Sidhu pleaded not guilty to all charges. The case was adjourned until 2 March and Sidhu was remanded on conditional bail.

The FSA is currently prosecuting 12 other individuals for insider dealing. Seven people – Bijal Shah, Truptesh Patel, Paresh Shah, Mitesh Shah, Neten Shah, Ali Mustafa and Pardip Saini – have been accused of 13 counts of dealing on inside information. Five others – James Paul Sanders, Miranda Sanders, Christopher Hossain, James Swallow and Adam Buck – have been charged with 17 counts.