Ex-trader convicted for insider trading ordered to serve additional jail time

Prison Bars

A former trader convicted three years ago in an insider trading case has been ordered to serve additional prison time after failing to repay money obtained as a result of the trading, British regulators said on Tuesday.

The New York Times reports that the trader, Pardip Saini, was one of six men sentenced to prison in 2012 in a case that centered on inside information obtained by a former UBS employee who worked in a printing room and shared it with a group of traders.

The case involved information about a variety of companies, including the Vega Group, Premier Oil and Enodis.

The group made more than £732,000, or about $1.1m, from May 2006 to May 2008, according to the British authorities.

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Trader Convicted of Insider Trading Receives More Prison Time

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