Mohammed Zina, a former Goldman Sachs analyst convicted of insider trading and fraud, has been ordered by a London court to pay £586,711 in confiscation. The court found that Zina benefited by £1.1 million from his activities, which involved insider trading and fraudulent loans from Tesco Bank. He has three months to pay the amount available from his current assets, or face a default prison sentence of five years.
London court gives Mohammed Zina three months to pay the amount that is available from current assets
The court found that Zina had benefited by £1.1 million from his conduct, which included insider trading and taking out loans fraudulently from Tesco Bank. Zina was ordered to pay the amount that was available from his current assets, according to the FCA and court records. During the trial, the jury heard how Zina had made about £140,000 in profits from trading on stocks including semiconductor designer Arm and pub company Punch Taverns. His biggest gain was about £55,000 in profit on trades in US food company Snyder’s-Lance.
INSIDER TRADING FRAUD CONFISCATION FINANCIAL CONDUCT AUTHORITY LONDON COURT
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