Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

Investment banker pleads guilty in love triangle insider dealing case

Investment banker pleads guilty in love triangle insider dealing case

Investment banker Thomas Ammann has pleaded guilty to two counts of insider dealing and two counts of encouraging insider dealing, while two women, both claiming to be his girlfriend, were acquitted.

In a trial at Southwark Crown Court it was heard that Ammann passed information to Christina Weckwerth and Jessica Mang and encouraged them to trade in shares of Océ prior to an acquisition being announced.

Both considered Ammann to be their boyfriend and had no idea of the other's existence, the court was told.

After the Océ acquisition was announced, both Weckwerth and Mang sold their shares for a substantial profit. Weckwerth made €1 million (£800,000) and Mang £29,000, and both shared half their profits with Ammann.  

According to the Financial Services Authority (FSA), which brought the case, Ammann was an investment banker working at Mizuho International.

In late 2008 and 2009 Mizuho was advising Canon, the multi-national technology company, on its acquisition of Océ, a medium sized Dutch company making photocopiers, scanners, related software and accessories.

The FSA said Ammann was one of the very small team at the bank working on the acquisition and had access to inside price sensitive information.

Ammann will be sentenced at a later date. 

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Insight's Waddington reveals infrastructure plays post-Carillion

Insight's Waddington reveals infrastructure plays post-Carillion

Post-Carillion Steve Waddington is still finding attractive plays in infrastructure.

1 Comment Play Mark Stevenson: oil is the dumbest place to put your money

Mark Stevenson: oil is the dumbest place to put your money

Futurist Mark Stevenson says that investing in oil is not just a risk to the environment but also your investment.

Play Boutique tapes: my business will never be sold

Boutique tapes: my business will never be sold

In the final part of our four part series we discuss consolidation and whether it's getting tougher for boutiques to survive.

Read More
Your Business: Cover Star Club

Profile: how this boutique beat the big guns of wealth

Profile: how this boutique beat the big guns of wealth

This small west country offshoot of a local IFA scooped a 2018 Citywire award from beneath the noses of the national challengers

Wealth Manager on Twitter