And the defence is?

A former analyst at Goldman Sachs and his brother, who was a solicitor at a leading law firm, have been accused of generating more than £140,000 in profits from insider dealing.

Mohammed Zina, 32, who was a Goldman employee based in London, and Suhail Zina, 33, a former solicitor at Clifford Chance, have been charged over trading in shares in six companies, including Arm Holdings and Punch Taverns, the Financial Conduct Authority said yesterday.

OK:

Mohammed Zina had worked in a part of Goldman that checked for conflicts of interest between the bank and its clients.

I’m guessing that ignorance of the law ain’t gonna be part of the defence.

9 thoughts on “And the defence is?”

  1. Why would you do something so insane if you were only going to get £140k? The text says that one is a solicitor and the other a former solicitor but they must have been doing really noddy work if their target was £140k for running a risk of jail, fines and not being able to be a solicitor anymore. It wouldn’t even finance the getaway to Brazil

  2. Of course, it’s just possible that one brother was trading innocently, not knowing about anything Goldman-man was up to, while the Goldman-brother is guilty of not telling all his family and friends “Don’t trade in Blogs PLC, I’m involved in a super-secret deal with them!”

    The rather small scale of the gains would tend to suggest this explanation.
    Unless of course, far greater gains were made for this risk, but just haven’t been found yet.

  3. Other members of the family they haven’t found yet? But good to know that we are being so enriched by this diversity.

Leave a Reply

Your email address will not be published. Required fields are marked *