Surrey stockbroker denies insider dealing charges

Mr Calvert denies the charges

A former stockbroker used secret and confidential information to buy almost half a million shares before their value shot up, a court has heard.

Malcolm Calvert, who is accused of 12 counts of insider trading, is said to have made a profit of £280,000 from his actions.

Mr Calvert, who retired from brokerage Cazenove 10 years ago, is said to have got a friend to buy the shares for him.

The 65-year-old from Cobham, Surrey, denies all the charges.

Mr Calvert is said to have bought shares in six companies that were advised by Cazenove on proposed takeovers, management buyouts and mergers.

The case was adjourned until Wednesday.

E-mail this to a friend

Printable version