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Proceedings against third man in 'Littlewood' case begins

Published on 31 Mar 2010 under category: legal

Criminal proceedings by the Financial Services Authority (FSA) have begun against the third man arrested in relation to the 'Littlewood' insider dealing case.

Helmy Omar Sa'aid is accused of conspiracy to commit insider dealing, as well the offence of insider dealing by the watchdog.

He is implicated into an FSA investigation into suspicious trading, which has seen the arrest of Christian Littlewood and his wife Angie.

The pair have been charged on 13 counts of insider trading, which took place between 2000 and 2009.

Mr Sa'aid was arrested on 15th March by the French authorities in Mayotte, a French overseas authority and was then returned to the UK by the City of London police.

The proceedings follow on the heels of five other prison sentences (one suspended) for insider dealing by the FSA, which has begun a drive to root out suspicious trading through the use of criminal convictions.

Last month, the watchdog secured a 21-month prison sentence for former Cazenove partner, Matthew Calvert, for five counts of insider trading.

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