Belgo executive convicted of insider trading
Thursday 26 February 2009
A former high-flying executive at the Belgian restaurant group Belgo has admitted insider trading.
Former operations manager Tim Power, 43, owned up to leaking price-sensitive information ahead of key events. A co-defendant, businessman Euan Carlisle, was acquitted at Southwark Crown Court.
Power was convicted last week but this could not be reported until the trial of Mr Carlisle, who was accused of using the information to buy shares, was completed. Power was accused of passing market-moving data to Mr Carlisle about the £10m takeover of Belgo in December 1997 and three acquisitions the following May.
The one-time multimillionaire had a glittering career at Belgo and married Chantal Brenninkmeyer, an heiress to the Dutch dynasty behind the C&A store chain. A lengthy investigation by the then Department of Trade and Industry (DTI) led to the court case.
Power, of Coval Road, East Sheen, London, is expected to be sentenced next month, although he has already been told he will not be jailed.
- 1 Edward Heath 'raped 12 year-old boy at Mayfair flat'
- 2 London is the most googled city in the world
- 3 Porn block in India: hundreds of sexual websites banned, internet outraged
- 4 Giant Minion terrorises drivers in Ireland as 40ft inflatable blocks traffic on Dublin road
- 5 Richard Dawkins ridicules Sabrina Corgatelli for claiming her giraffe kill was 'ethical'
Edward Heath 'raped 12 year-old boy at Mayfair flat'
'Gene drive': Scientists sound alarm over supercharged GM organisms which could spread in the wild and cause environmental disasters
Gwen Stefani and Gavin Rossdale divorce: One of music industry’s most enduring couples announce split after 12 years of marriage
Dutch King Willem-Alexander declares the end of the welfare state
Giant Minion terrorises drivers in Ireland as 40ft inflatable blocks traffic on Dublin road
Is Britain really full up? Are migrants taking our jobs? Leading academic answers the most common anti-immigration claims
Calais Migrant Crisis: Deputy Mayor of Calais labels Cameron's use of 'swarm' as 'racist' and 'ignorant'
Chris Leslie: Jeremy Corbyn's anti-austerity agenda will harm the poor, says Labour shadow Chancellor
Landlords renting properties to illegal immigrants to face up to five years in prison
While we fixate on Calais, the Home Office is quietly deporting dozens of migrants on 'ghost flights'
Labour leadership race: Jeremy Corbyn could be the next Prime Minister, says Ken Clarke
iJobs Money & Business
£35 - £50k DOE: Guru Careers: A Tax Manager / Accountant (ACA / CA / CTA) is n...
£35000 - £37000 per annum + benefits: Ashdown Group: Contracts Executive - Cit...
£20000 - £25000 per annum + OTE £45K: SThree: SThree Group have been well esta...
£21000 per annum: Recruitment Genius: This is an exciting opportunity to join ...