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FSA charges fifth man in £3m insider trading case

FSA charges fifth man in £3m insider trading case

The Financial Services Authority (FSA) has charged a fifth man in its biggest-ever insider trading investigation, according to reports.

The regulator has charged Richard Baldwin, 46, with conspiracy to deal in ‘securities that were price-related in relation to insider information’ between 2006 and 2010, alongside charges of acquiring, concealing and converting criminal property.

Four other defendants were charged earlier this year in relation to the alleged £3 million insider trading case. Baldwin was the partner of one of these, Andrew Hind, according to the Financial Times. The other defendants are Martyn Dodgson, a former managing director at Deutsche Bank, and Iraj Parvizi and Ben Anderson.

None of the defendants have formally entered a plea. A solicitor for Baldwin told the FT the allegations against his client would be denied. The case continues with a trial not expected to start until early 2014.

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