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Wednesday 9 February 2011

The investment banker Littlewood, 37, his Singaporean wife Angie Lew, 39, and a friend Helmy Omar Sa'aid, 34, made about S$1.2 million over eight years of insider trading.Probe on rogue trader took two years


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Probe on rogue trader took two years: "The investment banker Littlewood, 37, his Singaporean wife Angie Lew, 39, and a friend Helmy Omar Sa'aid, 34, made about S$1.2 million over eight years of insider trading.


Littlewood's method of operations was to eavesdropp on colleagues and spy on their computers to find out pending takeover annoucements, then inform his accomplices to buy shares in the lead up to the announcements.

They would then sell the shares to profit on the deal.

The trio pleaded guilty to eight counts of insider trading.

Last week, a London court sentenced Littlewood to 40 months' jail, while Helmy was sentenced to 24 months' jail. Lew was given a suspended sentence.

Police said it took 33 staff to analyse the large volume of evidence related to the case.

The evidence included 1,700 gigabytes of computer data, 43,000 pages of printed material and 10 years of banking and trading records."

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