An investment banker, his wife and a family friend have all been sentenced after pleading guilty to eight counts of insider dealing.
Christian Littlewood, a senior investment banker, his wife Angie Littlewood and Helmy Omar Sa’aid were all sentenced for insider dealing relating to trading of different London Stock Exchange and AIM listed shares between 2000 and 2008.
Christian Littlewood was sentenced to three years and four months in custody, while Angie Littlewood was sentenced to 12 months in custody suspended for two years. The pair also operated under the names Siew Yoon Lew and Angie Lew.
Sa’aid was sentenced to two years in custody and was also ordered to pay £640,000 in confiscation orders. Confiscation orders for Christian and Angie Littlewood will be dealt with at a later date.
FSA managing director of enforcement and financial crime Margaret Cole says: “This was a case of systematic abuse by an approved person of their privileged position in the market – we are determined to stamp out such abuse. Our tough, coordinated approach to insider dealing and our commitment to taking on difficult criminal prosecutions has really begun to pay off; the guilty pleas and sentencing of the Littlewoods and Sa’aid shows that we can, and will, uncover insider dealing, even across borders, and that the people who commit these market offences will not go unpunished.”