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Trio admit insider dealing

An investment banker, his wife and a family friend have pleaded guilty to insider dealing at Southwark Crown Court.

Senior investment banker Christian Littlewood, his wife Angie Littlewood and family friend Helmy Omar Sa’aid have pleaded guilty to eight counts of insider dealing. They are alleged to have made £590,000 from the trades.

The offences relate to trading in a number of different London Stock Exchange and Aim-listed shares between 2000 and 2008. In March 2009, the City of London Police, working with FSA staff, arres-ted the Littlewoods.

The third defendant, Helmy Omar Sa’aid, was returned to the UK March 2010 following the execution of a European arrest warrant in Mayotte, one of the Comoros Islands.

The full sentencing and confiscation hearing will take place in the week starting January 31.

This is the sixth successful prosecution for insider dealing brought by the FSA and is part of its ongoing drive to tackle market abuse.

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