FCA has sentenced Manjeet Mohal, a former employee of Logica Plc, to 10 months imprisonment suspended for two years and 180 hours of community work in respect of two counts of insider dealing.

Mr Mohal came into possession of inside information relating to a takeover of Logica by CGI Holdings (Europe) Ltd which he disclosed to his neighbour, Reshim Birk, and another individual.

Mr Birk, was sentenced to 16 months imprisonment suspended for two years in respect of one count of insider dealing and 200 hours of community work.

In addition, a confiscation order of £162,876.69 was made against Mr Birk.

Mr Birk traded in shares and options relating to Logica Plc while in possession of that inside information and made profits in excess of £100,000.

Prosecution costs of £42,593.35 were awarded to the FCA in respect of each defendant.

A copy of the FCA press release is available: http://bit.ly/2iVa8MI