The former chief financial officer of NeuTec Pharma Plc , who is on trial for insider trading, said that while he never gave confidential information to unauthorized people, his enthusiasm for the company “rubbed off” on friends.
Banks agreed to pay about $15.5 billion to settle claims by about 720,000 investors outside the U.S. who lost money in Bernard Madoff’s fraud, said the chairman of a group of law firms representing victims.
NeuTec Pharma Ltd. ’s former chief financial officer and two lawyers were cleared of insider- trading charges today by a London court, handing the U.K. financial regulator its first defeat in a criminal case.
Attorney Olivier Metzner says thousands of Societe Generale SA’s own computer records will clear his client, Jerome Kerviel, of responsibility for the bank’s record 4.9 billion-euro ($6 billion) trading loss, Bloomberg News’ Alan Katz and Heather Smith report.
Nevin Shapiro, chief executive officer of Capitol Investments USA Inc., defrauded investors of at least $80 million to fund his lavish lifestyle after raising $880 million in a Ponzi scheme, U.S. prosecutors charged.
The former chief financial officer of NeuTec Pharma Plc, who is on trial for insider trading in London, was in line to receive 3 million pounds ($4.6 million) if a 2006 takeover by Novartis AG closed without any problems.
The ex-wife of a former Microsoft Corp. employee could be eligible for a $1 million bounty for helping U.S. regulators impose one of the largest-ever insider trading fines against Arthur Samberg’s Pequot Capital Management Inc.
NeuTec Pharma Plc, the biopharmaceutical company whose 2006 takeover by Novartis AG is at the heart of an insider-trading trial, employed the law firm where one of the defendants worked, a witness said.