Ex-Goldman Sachs analyst and brother charged with insider trading

SourceFinancial Times
SectorFinancial Markets
CountryMiddle east

A former Goldman Sachs analyst and his lawyer brother have appeared in court charged with insider trading and fraud. Mohammed Zina, 32, and Suhail Zina, 33, who was a solicitor at Clifford Chance, appeared at Westminster magistrates court on Tuesday. They were charged by the UK regulator, the Financial Conduct Authority, with six offences of insider dealing and three counts of fraud by false representation. Mohammed Zina, of Stoke Newington, was employed by Goldman Sachs International as an analyst in its conflicts resolution group in London. Suhail Zina, also of Stoke Newington, was a solicitor at Clifford Chance’s London office.  The alleged insider trading offences took place between July 2016 and December 2017 and involved trading in Arm Holdings, Alternative Networks, Punch Taverns, Shawbrook, HSN and Snyder’s-Lance. The total profit from the alleged insider dealing was £142,000, the FCA said in a statement. The fraud charges relate to three personal loans totalling £95,000.

These were allegedly obtained from Tesco Bank and were purportedly taken...read more...