X5 UK individuals face INSIDER DEALING and MONEY LAUNDERING charges

The FCA has started criminal proceedings against five individuals for conspiracy to commit insider dealing and money laundering.

The FCA alleges that Redinel Korfuzi, Oerta Korfuzi, Iva Spahiu, Rogerio de Aquino and Dema Almeziad conspired to commit offences of insider dealing between 17 December 2019 and 25 March 2021.

Specifically, the FCA alleges that Mr Korfuzi used confidential inside information he accessed as an Analyst in his former role at Janus Henderson to enable timely and profitable trading in 49 companies through accounts held by his co-conspirators.

In each case, the defendants

• Used a derivative product called Contracts for Differences concerning each of these companies,
• betting that the value of shares would go down after the announcements.
• In doing so, they realised approximately £1.5 million in profits.

All five are also charged with money laundering offences relating to over 170 cash deposits totalling approximately £200,000.

In March 2021, the FCA conducted a multi-site search and arrest operation with the assistance of the Metropolitan Police, and four of the defendants were on police bail until they appeared before Westminster Magistrates’ Court today.

The case was formally sent to Southwark Crown Court, where the defendants will appear on 22 February 2023 for a Plea and Case Management Hearing. All the defendants have indicated Not Guilty pleas.

Janus Henderson has co-operated fully with the FCA’s investigation.

The FCA cannot provide any further comment at this time.

Notes to editors

• Redinel Korfuzi’s date of birth is 20 May 1987, Oerta Korfuzi’s date of birth is 10 September 1988, Iva Spahiu’s date of birth is 6 February 1988, Rogerio de Aquino’s date of birth is 4 November 1961, Dema Almeziad’s date of birth is 30 January 1985.
• Janus Henderson is regulated by the FCA.
• INSIDER JAIL TIME
  • BEFORE NOV 2021 = Insider dealing is punishable by a fine and/or up to 7 years’ imprisonment for offences that occurred during the period of these alleged offences.
  • AFTER, 1 NOVEMBER 2021, the maximum sentence for insider dealing is a fine and/or up to 10 years’ imprisonment.
• Money Laundering is punishable by a fine and/or up to 14 years’ imprisonment.

https://www.fca.org.uk/news/press-releases/five-individuals-conspiracy-insider-deal-money-laundering-charges

https://www.professionaladviser.com/news/4066125/fca-starts-proceedings-dealing-money-laundering