Another Arrest In The UK's Widening Insider Trading Scandal

Shadow Silhouette

News broke yesterday that Moore Capital was the hedge fund connected to the latest insider trading scandal.

Now another person has been arrested, bringing the total number to seven, according to MarketWatch.

Now the firms connected to the scandal are: Moore Capital, Deutsche Bank, Exane (half-owned by BNP Paribas), and Novum,

Here’s what we know about each.

Moore Capital

The FSA arrested Julian Rifat, an execution trader, yesterday.


A spokesman for the Exane confirmed to Bloomberg that one of their senior employees, Clive Roberts, is being questioned. (He is reportedly the head of European sales trading.)


Graeme Shelley, a trader at London-based stockbroker Novum Securities Ltd., was questioned.

Deutsche Bank

Martyn Dodgson, a managing director in corporate broking at Deutsche Bank, is being investigated.

So far, only employees at Moore Capital and Deutsche Bank have been arrested.

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