Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and 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
Brewin's Foster: the world’s most unconventional monetary policies

Brewin's Foster: the world’s most unconventional monetary policies

In this week's podcast, Guy Foster asks why the world’s biggest economies are pursuing some of the world’s most unconventional monetary policies. 

Play Charles Tan on Woodford & hidden trust income gems

Charles Tan on Woodford & hidden trust income gems

Cantor Fitzgerald investment company analyst Charles Tan discusses Woodford Patient Capital and some of the income trusts slipping under the radar.  

Play Taxicab Tenner: SGPB Hambros CIO Eric Verleyen

Taxicab Tenner: SGPB Hambros CIO Eric Verleyen

In the second episode of our new series, Verleyen jumps on board a black cab and explains how hard it's become to find good valuation on the market.  

Wealth Manager on Twitter