THE conviction of the trio of insider dealers was a major victory for the FSA in its fight against financial crime.
Littlewood’s three years and four months conviction was a record. But it is the latest in a string of successes for the FSA.
Last June Anjam Ahmad, a former hedge fund manager for AKO Capital, received a suspended 10 month sentence for dealing in at least 19 companies he had information about.
In March last year, former Cazenove partner Malcolm Calvert (pictured) was sentenced to 21 months in prison. The court heard how his operation involved passing envelopes stuffed with money between him and an accomplice. He was found guilty of five counts of insider dealing. In November 2009 a dentist and son, an intern at a broking firm, were found guilty of 12 counts of insider dealing. In March 2009 Christopher McQuoid and his father-in-law James William Melbourne were found guilty of trading on information relating to a telecoms firm.