Insider dealers ordered to pay £1.5 million in confiscation

11 Sep 2012

The FSA has announced (http://www.fsa.gov.uk/library/communication/pr/2012/082.shtml?intEmailHistoryId=778390&intEmailListId=133&intEmailId=60099&intExternalSystemId=1) that it has been successful in obtaining Confiscation Orders against Christian and Angie Littlewood following their sentencing for insider dealing in 2010. Mr and Mrs Littlewood have each been ordered to pay £767,000 by way of confiscation and have also each been ordered to pay costs in the sum of £33,000 to the FSA. The orders mean that the total amount of money confiscated in this case, including from Helmy Omar Sa’aid, totals £2,174,000. The confiscation orders are especially interesting given that the total profit made by the Littlewoods and Sa’aid amounted to only £590,000.