Corporate fraud lawyers to investigate share fraud

Published on 1 Jun 2010 under category: legal

The corporate fraud watchdog is to investigate suspicious activity at Gartmore, it has been reported.

Corporate fraud lawyers could be called in following an internal investigation of suspicious activity at a major investment firm.

The Gartmore Group's highest profile fund manager has been suspended from trading, after the group called in the Financial Services Authority to investigate Guillaume Rambourg's conduct.

However, before this week's announcement it made clear that the internal investigation was not linked to a major probe into an insider dealing ring by the industry watchdog.

In a statement to the stock market last week, Gartmore said: "Gartmore is not connected with the recently reported joint investigation on insider dealing by the FSA and the Serious Organised Crime Agency,

"Gartmore has not identified any information to date which suggests that Gartmore's clients have suffered any loss as a result of these breaches."

According to reports, the suspicious activity relates to transactions by Rambourg outside of regular trading hours.

Firms are obliged to deliver their daily transactions to the corporate fraud watchdog.

If you require advice on Corporate Fraud please call us on +44 (0)20 7831 0101 and ask for Dan Hyde.