A London banker gave his barrister wife and her friend material non-public information on upcoming takeover deals that netted the trio almost $1 million, the Daily Mail reports.
Christian Littlewood was an M&A specialist for German investment bank Dresdner Kleinwort Wasserstein. He worked there between 1998 and 2007, when he was made redundant.
In a scheme that lasted nine years, he passed information about future acquistions to his wife, Angela and her buddy Helmy Sa’aid.
He also apparently spied and eavesdropped on his coworkers to try and get extra information about upcoming transactions.
When Littlewood was sacked by Dresder, he then got work at Shore Capital and apparently passed information of the very first deal on which he worked to his wife. The couple were arrested in March 2009, and Sa’aid was held on the islands of Mayotte last May.
But Christian Littlewood’s lawyer argues that while he “lit the touch paper,” he didn’t know how much money his wife and Sa’aid were pouring into the LSE. And he blames most of the scheme on his wife, who used to work for UBS. He even tried to shift the blame as he was sitting right beside her in the court dock, The Telegraph reports.
And this isn’t the first time Littlewood has carried out such a scheme, apparently. The Telegraph reports he did the same thing with an ex-girlfriend.
Angela Littlewood’s lawyer argued that his client had been manipulated and used for years by her husband, and even read out an email from 2002 that in which she wrote:
When are you going to stop being calculative.You have never been proud of me. All you care about is for me to bring lots of money to you.
The Littlewoods pleaded guilty last October and Sa’aid pleaded guilty this month. They’re all set to be sentenced this week.