Legal & Gen man arrested
A WORKER at Legal & General Investment Management was arrested yesterday in the FSA’s largest ever insider dealing operation.
An unnamed 44-year-old man was arrested and interviewed under caution in London yesterday, and was bailed pending further enquiries.
LGIM confirmed yesterday that he is an employee, but said it is “not aware of any detriment caused to customers or any impact on our financial results”.
His detainment came after searches at one business and two homes in London and Kent, the FSA said.
Yesterday’s arrest is part of a probe run by the FSA and the Serious Organised Crime Agency, which has spanned almost two years and resulted in 11 convictions to date, with 16 further prosecutions ongoing.
It is part of the same probe that last year resulted in custodial sentences for Christian and Angie Littlewood.