Former Cazenove stockbroker trial hears from bank

Mr Calvert denies 12 counts of insider dealing

Jurors at the trial of a retired banker accused of insider trading have been told it is impossible to know whether the activity took place.

Malcolm Calvert, a former stockbroker with Cazenove, is accused of using leaked information to make a profit of £280,000.

The 65-year-old, who retired 10 years ago, denies insider trading.

Southwark Crown Court heard evidence from the bank's managing director of corporate finance.

Michael Wentworth-Stanley said it was impossible to know whether price changes ahead of takeovers were caused by someone with insider information or simple gossip.

Calvert, of Fairmile Lane, Cobham, Surrey, denies 12 counts of insider dealing between 23 April 2003 and 8 March 2005.

The trial continues.

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