New York (HedgeCo.net) – A UK hedge fund trader pled guilty of conspiracy to commit insider trading in a London court yesterday, according to the Associated Press.
Anjam Ahmad, 39, is out on bail but faces jail time. “I can make no promises as to sentence.” Judge Geoffrey Rivlin said, “I hardly need tell you that this is a serious matter.” The Associated Press reported.
The charges were filed by the Financial Services Authority (FSA), the Associated Press said. Ahmad was the first to deliver a guilty plea in the case where hedge fund AKO Capital’s transactions with 22 different companies between June and August last year are under scrutiny.
Alex Akesson
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