Jurors consider Malcolm Calvert insider dealing verdict

Mr Calvert denies 12 counts of insider dealing

Jurors in the trial of a retired banker accused of insider trading have retired to consider their verdict.

Malcolm Calvert, a former partner at the Queen's stockbrokers, Cazenove, is accused of using leaked information to make a profit of £280,000.

The 65-year-old, of Fairmile Lane, Cobham, in Surrey, who retired 10 years ago, denies insider trading.

Judge Peter Testar QC told the jury at Southwark Crown Court to take "as much time as you need" to reach a verdict.

Peter Carter QC, prosecuting, said the case may involve the world of high finance but at its centre was "simple dishonesty".

Mr Calvert is accused of using confidential information on a series of proposed management buyouts, takeovers and mergers to tell a friend to buy nearly half a million shares in six firms, making the pair a £280,000 profit.

He was too close to the action to buy the shares himself and could not risk using his own name, the court has heard.

Mr Calvert denies 12 counts of insider dealing between 23 April 2003 and 8 March 2005.

The jury was later sent home for the weekend and will continue its deliberations on Monday.

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