January 25, 2023

FCA charges financial analyst and others with insider dealing and money laundering offenses

Five defendants have been charged with dealing in confidential inside information between December 17, 2019 and March 25, 2021.  According to the FCA, Redinal Korfuzi, an analyst at Janus Henderson, exploited his role at the company to access inside information concerning 49 companies, and to make profitable trades based on the information via accounts held by four co-conspirators.  The FCA alleges that the five realized profits of approximately £1.5 million during the relevant period by purchasing contracts for difference — derivative products based on the difference between the current value of an asset and the value at settlement — prior to public announcements by the companies.  The five alleged co-conspirators have also been charged with money laundering.  They will appear in Southwark Crown Court in February 2023; all of the defendants have indicated the intention to plead not guilty.

FCA press release