Pursuits
Inside Traders 'Nobu' And 'Fruit' Made Millions, U.K. Court Told
- Group made 7.4 million pound profit, U.K. prosecutors say
- Lamborghini55 was password for encrypted memory stick
From left: Martyn Dodgson, Andrew Hind and Iraj Parvizi.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Encrypted storage devices, pay-as-you-go mobile phones and nicknames such as “Nobu,” “Fatty" and “Fruit" were used in a conspiracy to commit insider trading by five men working at various firms including Deutsche Bank AG, prosecutors said at the opening of one of the U.K.’s biggest insider dealing trials.
The men used "elaborate, carefully planned and executed strategies” designed to keep their activities secret from authorities, prosecutor Mark Ellison told the court Thursday, acting for the U.K Financial Conduct Authority. Ellison said the evidence will focus on six acts of insider dealing that made profit of 7.4 million pounds ($10.7 million) for the defendants.