AMMANN: THREE IN COURT OVER INSIDER DEALING
A German investment banker accused of conspiring with his two lovers to cash in on a £1bn takeover is to stand trial with them on insider dealing charges.
Thomas Ammann, 38, allegedly used insider information from his job at Japanese bank Mizuho to but shares in a Dutch photocopy company Oce, which was due to be taken over by Canon.
The London-based banker is said to have conspired with his two lovers, German student Christina Weckworth, 43 and London based chiropractor Dr Jessica Mang, 28, who bought shares in the company.
The trio appeared were committed to the crown court to stand trial on charges of insider dealing and money laundering after appearing at Westminster Magistrates Court today (Tues).
Ammann was one of a number of bankers at Mizuho who allegedly had insider knowledge of the deal before it was announced.
The suspicious trading took place between February and November 2009, at which point the the takeover was publicly announced.
Ammann and his co-defendants are said to have repeatedly invested in the company, and placed trades using professional intermediaries including Morgan Stanley and Halifax.
He is the first investment banker to be charged with encouraging insider dealing, and only the second for insider dealing.
Ammann, of (68) Charlotte Street, central London, is accused of three counts of insider dealing, two counts of encouraging insider dealing and one count of money laundering.
Weckworth, of Koenigstein im Taunus, Germany, is accused of two counts of insider dealing and one of money laundering.
Mang, of (flat 16) Charing Cross Mansions, 26 Charing Cross Road, central London, is accused of one count of insider dealing.
All three were committed to Southwark Crown Court for a hearing on December 16.
Mizuho previously put out a statement when the three were first charged, confirming that no blame was being laid with the bank itself.
It said: ‘The FSA has confirmed that there has been no wrongdoing by Mizuho International and no actions are being taken against Mizuho International.
‘The FSA has not expressed any concern about Mizuho International or its systems and controls.’
