Ex-banker jailed for passing inside info to girlfriends

Gavel

Thomas Ammann, the former Mizuho International banker sentenced to 32 months in prison for giving inside information on deals to two of his girlfriends, must repay $151,621, a judge ruled Wednesday.

Bloomberg reports that Ammann, a German citizen who worked on the Mizuho team advising Canon on its 2009 takeover of OCE NV, agreed to repay the profits from crime within 14 days to the U.K. Financial Conduct Authority

Ammann pleaded guilty to insider trading and encouraging the women to commit insider trading in 2012 and will serve half of the 32-month sentence. Jessica Mang and Christina Weckwerth were cleared of trading on illegal tips from him following a London trial that ended in November.

Chris Hamilton, an FCA spokesman, declined to comment on Wednesday’s hearing. A call to lawyers representing Ammann wasn’t immediately returned.

Ammann appeared at the hearing in a blue V-neck sweater and rimmed glasses. He only spoke to confirm his name. If he fails to make the payment he could face another 18 months in jail, Judge Anthony Leonard said Wednesday.

To access the complete Bloomberg article hit the link below

Ex-Banker to Pay $151,621 for Insider Tips to Girlfriends

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