Investor charged with insider dealing and money laundering

Investor charged with insider dealing and money laundering




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The FSA has prosecuted a West Yorkshire investor for insider dealing on five counts and one further count of money laundering. 

Investor Neil Rollins has been charged at the City of Westminster Magistrates’ Court for holding inside information in relation to PM Group plc, the rubbish collection services firm, which led him to dispose of almost 75,000 shares in 2006. Soon after the alleged transaction, PM Group announced a profits warning.

 

Mr Rollins transferred criminal property of £25,000, £50,000 and a further £27,000 over a space of five days in November 2006 to one of his accounts, in the knowledge that it represented the proceeds of insider dealing.

 

The case has been seen as suitable for trial on indictment before the Crown Court, with proceedings being adjourned until the 18th of February. Mr Rollins was remanded yesterday on unconditional bail.

 

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