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Ex-Cazenove partner took cash for share tips

A former partner at JPMorgan Chase & Co.’s Cazenove unit has been accused of passing tips to a friend in exchange for envelopes filled with cash, according to a report in the Times. 

Malcom Calvert, 65, a former Cazenove equities marketmaker is standing trial on 12 counts of insiders dealing which he denies.

He is accused of passing the tips he recieved from inside Cazenove to a friend Bertie Hatcher who then made about £280,000 profit by buying shares with cash just before takeover bids were announced. 

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