A former analyst at Goldman Sachs and his brother, who worked as a solicitor at London’s Clifford Chance, have been charged with insider trading and fraud.
The Financial Conduct Authority (FCA) said the alleged insider dealing made profits of around £142,000.
It involved trading in ARM Holdings plc, Alternative Networks plc, Punch Taverns plc, Shawbrook plc, HSN Inc and Snyder’s Lance Inc between July 2016 and December 2017.
The fraud charges relate to three personal loans obtained from Tesco Bank, totalling £95,000, which were stated to be for funding home improvements.
Instead, the loans funded the alleged insider dealing, the financial watchdog said.
Mohammed Zina and Suhail Zina appeared at Westminster Magistrates’ Court on February 16, then the case was sent to Southwark Crown Court for a Plea and Trial Preparation Hearing scheduled for March 16.