Surrey stockbroker guilty of insider dealing

Mr Calvert instructed his friend which shares to buy using inside information

A former stockbroker from Surrey has been found guilty of insider dealing.

Malcolm Calvert, 65, of Fairmile Lane, Cobham, retired from investment bank Cazenove 10 years ago.

He used his contacts to get confidential information on business deals before getting a friend to buy shares in three companies.

A jury Southwark Crown Court took more than 18 hours to convict Calvert of five counts of insider dealing between June 2003 and October 2005.

He was cleared of a further seven counts relating to a further three companies.

Leaked information

Calvert is due to be sentenced on Thursday.

The jury of six men and five women retired to consider their verdict last Friday.

The court previously heard how the former partner at the Queen's stockbrokers used leaked information from an unknown source about future mergers and acquisitions.

His friend, Bertie Hatcher, bought more than 150,000 shares in three firms on Calvert's instructions making profits totalling hundreds of thousands of pounds.