Hedge fund trader to be sentenced for insider dealing

A former hedge fund trader faces jail today after he admitted insider dealing.

Anjam Ahmad, 39, was the first person to plead guilty to a criminal charge of insider dealing filed by the Financial Services Authority.

Judge Geoffrey Rivlin QC, the honorary recorder of Westminster, told Ahmad, who worked at AKO Capital until last September: "I can make no promises as to sentence.

"I hardly need tell you that this is a serious matter."

The charge related to transactions involving 22 different companies between June and August last year, Southwark Crown Court in central London was told.

Ahmad, of Smugglers Way, Wandsworth, south London, admitted one count of conspiracy to commit insider dealing and is on bail.