The Financial Conduct Authority (FCA) has launched criminal proceedings against five people for conspiracy to commit insider dealing and money laundering.
They are named as Redinel Korfuzi, Oerta Korfuzi, Iva Spahiu, Rogerio de Aquino and Dema Almeziad.
The quintet stands accused of conspiracy to commit insider dealing between 17 December 2019 and 25 March 2021.
The FCA alleges that Korfuzi used confidential inside information he accessed as an analyst in his former role at Janus Henderson to enable timely and profitable trading in 49 companies through accounts held by his co-conspirators.
In each case, the defendants used a derivative product called contracts for difference (CFD), betting that the value of shares would go down after the announcements. In doing so, they were able to realise profits of approximately £1.5m.
All five are also charged with money laundering offences relating to over 170 cash deposits totalling approximately £200,000.
In March 2021, the FCA with the assistance of the Metropolitan Police conducted a multi-site search and arrest operation. Four of the defendants, none of whom were named, were on police bail until they appeared before Westminster Magistrates’ Court on 25 January.
The case was sent to Southwark Crown Court, where the defendants will appear on 22 February 2023 for a plea and case management hearing. All the defendants have indicated they will plead ‘not guilty’.
The FCA stated that Janus Henderson has co-operated fully with its investigation.
