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Martyn Dodgson: Deutsche, Lehman Brothers banker guilty of insider trading
May 10, 2016 | The Australian
By Harry Wilson
...Martyn Dodgson, 44, a former managing director at Deutsche Bank and Lehman Brothers, was convicted yesterday along with Andrew Hind, 56, an accountant and property developer, of using insider information on big UK takeover bids to make large trading profits. -
Two Convicted in Insider Trading Conspiracy in London
May 9, 2016 | The New York Times - DealBook
By Chad Bray
...After a three-month trial in Southwark Crown Court in London, Martyn Dodgson, a former banker at Morgan Stanley, Lehman Brothers and Deutsche Bank, and Andrew Hind, a businessman and trained accountant, were convicted of conspiracy to “insider deal,” as insider trading is described in Britain. -
Meet the Five Men Involved in the Largest U.K. Insider-Trading Case
May 9, 2016 | Bloomberg
By Suzi Ring
...According to the prosecution, while he was at Lehman, Dodgson fed tips on the takeovers of Scottish & Newcastle Ltd. and mortgage provider Paragon Group of Companies Plc to Hind, who passed them to Parvizi and Anderson to trade on. -
Two convicted and three acquitted in biggest ever insider trading trial
May 9, 2016 | The Telegraph
By Tim Wallace
...Mr Dodgson’s career also included stints at investment banks Morgan Stanley and Lehman Brothers, while Mr Hind was Topshop’s finance director and advised Arcadia’s boss Sir Philip Green. Meanwhile Mr Parvizi, who was acquitted, once worked in a kebab shop but went on to earn £70m from his day trading. -
Former Deutsche Bank boss guilty of insider dealing
May 9, 2016 | The Guardian
By Simon Goodley
...Eight years after the investigation began, Andrew Hind, 56, ex-finance director at Topshop, part of Green’s Arcadia Group, and his friend Martyn Dodgson, 44, who used to work in corporate broking at Deutsche and Lehman Brothers, were both convicted following a 12-week trial at Southwark crown court. -
Coming and Going Concerns - The latest professional moves in the bankruptcy and restructuring world
May 10, 2016 | The Wall Street Journal
By Melanie Cohen
...Mr. Parker has experience with fraud, investigations and litigation in complex restructurings. He also worked on Lehman Brothers’ bankruptcy case in Europe. -
Robins Kaplan Hires Ex-Weil Restructuring Atty In NY
May 9, 2016 | Law 360
By Jody Godoy
Robins Kaplan LLP has brought aboard a bankruptcy attorney from Weil Gotshal & Manges LLP who has represented debtors including Lehman Brothers in complex Chapter 11 proceedings, the firm announced on Monday.
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Martyn Dodgson: Deutsche, Lehman Brothers banker guilty of insider trading
May 10, 2016 | The Australian
By Harry Wilson
A former top city banker has been found guilty of insider trading, marking the end of Britain’s largest inquiry into illegal dealing in the City after a nine-year investigation costing more than £10 million ($AU20m).
Martyn Dodgson, 44, a former managing director at Deutsche Bank and Lehman Brothers, was convicted yesterday along with Andrew Hind, 56, an accountant and property developer, of using insider information on big UK takeover bids to make large trading profits.
However, in a blow to the Financial Conduct Authority, which had led their prosecution, a trio of men accused of being part of the same insider dealing ring were acquitted after a jury took nine days to deliberate on a case that involved accusations of illegal trading in the shares of major UK-listed companies such as Sky and Legal & General.
Ben Anderson, 71, a day trader, Andrew “Grant” Harrison, 46, a former stockbroker, and Iraj Parvizi, a kebab shop worker-turned-multimillionaire trader, 50, were found not guilty by the jury at Southwark crown court.
The men were said to have made a total of £7.4 million in profits from their trading after an investigation that the FCA described as the most complex in British history uncovered what officials said was a highly sophisticated ring aimed at using confidential information to make illegal profits.
The trial marks probably the last court case on the back of the Operation Tabernula investigation, which began in 2007 and cost more than £10 million. The inquiry first became public in 2010 with a series of dawn raids by Financial Services Authority officials and police.
Mark Steward, director of enforcement and oversight at the FCA, described the investigation as “an extraordinary and complex case of a type not prosecuted in this country before”.
Mr Steward said: “Dodgson was an experienced and well-paid banker, well aware that what he was doing constituted a criminal offence and who conspired with Hind to abuse our market and to profit at the expense of the investing public.”
Dodgson had worked at some of the world’s largest investment banks, including Morgan Stanley, Lehman Brothers and Deutsche Bank. Through his work as a senior corporate broker, which meant he was a key interlocutor between his corporate clients and the market, he was privy to confidential information that he secretly passed on to Hind, who acted as the middle man...
For full story: http://www.theaustralian.com.au/news/world/the-times/martyn-dodgson-deutsche-lehman-brothers-banker-guilty-of-insider-trading/news-story/5943d43c28ccb2a6b2af1394be33bc33
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Two Convicted in Insider Trading Conspiracy in London
May 9, 2016 | The New York Times - DealBook
By Chad Bray
A former investment banker and a businessman were convicted of insider trading on Monday in what the British authorities have described as the largest crackdown on improper trading in Britain.
After a three-month trial in Southwark Crown Court in London, Martyn Dodgson, a former banker at Morgan Stanley, Lehman Brothers and Deutsche Bank, and Andrew Hind, a businessman and trained accountant, were convicted of conspiracy to “insider deal,” as insider trading is described in Britain.
The conspiracy began in November 2006 and ended in March 2010, prosecutors said.
The case sprung out of an investigation called Operation Tabernula. The investigation began with a series of raids by the British authorities in March 2010
Three other men who also were on trial were acquitted of criminal charges on Monday.
“This was an extraordinary and complex case of a type not prosecuted in this country before,” Mark Steward, the Financial Conduct Authority’s director of enforcement and market oversight, said in a news release on Monday.
“The message is loud and clear that the F.C.A. will not tolerate sophisticated predatory criminals abusing our markets,” he added.
Sentencing of Mr. Dodgson, 44, and Mr. Hind, 56, will be at a later date. The maximum sentence for each is seven years in prison.
The Financial Conduct Authority accused Mr. Dodgson of improperly sharing information from the investment banks where he worked to be used to make improper trades.
Mr. Dodgson shared the information with Mr. Hind, his close friend, the regulator said. Mr. Hind acted as a middle man and helped facilitate trades for the benefit of Mr. Dodgson and himself, the Financial Conduct Authority said.
The members of the conspiracy used unregistered mobile telephones, encrypted records and safe deposit boxes to hide their improper trading from authorities, the Financial Conduct Authority said...
For full story: http://www.nytimes.com/2016/05/10/business/dealbook/insider-trading-conviction-london.html?_r=0
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Meet the Five Men Involved in the Largest U.K. Insider-Trading Case
May 9, 2016 | Bloomberg
By Suzi Ring
Two financial professionals accused of making 7.4 million pounds ($10.7 million) with three others on confidential information about six stocks have been found guilty by a London court, with the other men acquitted. Here’s what you need to know about them.Martyn Dodgson
Former Deutsche Bank managing director
Age: 44
Nickname: Fruit
Verdict: GuiltyWell-spoken and polite, Dodgson grew up and went to university in Lancaster, graduating with a first-class degree in economics. After qualifying as an accountant he moved into investment banking, working at a number of prestigious firms including: Cazenove, UBS Group AG, Lehman Brothers Holdings Inc. and Deutsche Bank AG. A chance meeting with accountant Andrew Hind at his brother’s bachelor party in 2001 -- Hind was his brother’s boss -- led to a friendship and a trading arrangement.
According to the prosecution, while he was at Lehman, Dodgson fed tips on the takeovers of Scottish & Newcastle Ltd. and mortgage provider Paragon Group of Companies Plc to Hind, who passed them to Parvizi and Anderson to trade on. He did the same in relation to other companies while working at Deutsche Bank. Dodgson and Hind claimed they only discussed public information, drawing on Dodgson’s market knowledge to help Hind’s trading. They said any covert methods used were only out of concern for Dodgson’s job because he hadn’t told his employers about the arrangement. Dodgson never met Anderson or Parvizi.
“The combination of being out late and drinking combined with the shock and fear of what my wife and family were going through, I suspect, made me act with the maximum amount of defensiveness” —Dodgson said on the witness stand while talking about why he lied in his interview after arrest...
For full story: http://www.bloomberg.com/news/articles/2016-05-09/u-k-insider-trading-verdicts-meet-the-defendants
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Two convicted and three acquitted in biggest ever insider trading trial
May 9, 2016 | The Telegraph
By Tim Wallace
A former banker and an accountant have both been found guilty of insider trading in what it thought to be the biggest case ever brought for share trading abuses in the UK.
Ex-Deutsche Bank corporate broker Martyn Dodgson and accountant Andrew Hind were both convicted by a jury at Southwark Crown Court.
But three other men – day traders Benjamin Anderson and Iraj Parvizi, and former Panmure Gordon broker Andrew Harrison – were acquitted.
Mr Dodgson, who is 44 years old, held his head in his hands after the verdict was read out while Mr Anderson grasped Mr Hind’s hand, according to Bloomberg reporters in court.
The four-month trial ends a nine-year long investigation run by the Financial Services Authority and its successor the Financial Conduct Authority, which kicked off in 2007 and included a series of dawn raids in 2010.
The FCA’s lawyers had told the court that Mr Dodgson passed information to Mr Hind, who then sent it on to the traders.
The court heard that the group would meet in an Indian restaurant to exchange envelopes of cash in a series of exchanges which prosecutors said netted them a total of £7.4m.
They also used nicknames including Fatty, Nobu and Fruit in an effort to disguise their identities.
The group were accused of using high-end encryption systems and unregistered pay-as-you-go mobiles to cover their activity.
Investigators also used technology to build their case – regulators bugged the office of Mr Anderson in 2008 to record a conversation with Mr Parvizi, who discussed Mr Dodgson and Mr Hind.
Prosecutors said they used this insider knowledge to trade on shares in Scottish & Newcastle; Paragon Group; Just Retirement; Legal & General and BskyB.
Each of the accused had substantial professional or trading success.
Mr Dodgson’s career also included stints at investment banks Morgan Stanley and Lehman Brothers, while Mr Hind was Topshop’s finance director and advised Arcadia’s boss Sir Philip Green. Meanwhile Mr Parvizi, who was acquitted, once worked in a kebab shop but went on to earn £70m from his day trading...
For full story: http://www.telegraph.co.uk/business/2016/05/09/two-convicted-and-three-acquitted-in-biggest-ever-insider-tradin/
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Former Deutsche Bank boss guilty of insider dealing
May 9, 2016 | The Guardian
By Simon Goodley
A former adviser to Sir Philip Green, along with a one-time managing director ofDeutsche Bank, have been found guilty of insider dealing in one of the UK’s most high-profile cases.
Eight years after the investigation began, Andrew Hind, 56, ex-finance director at Topshop, part of Green’s Arcadia Group, and his friend Martyn Dodgson, 44, who used to work in corporate broking at Deutsche and Lehman Brothers, were both convicted following a 12-week trial at Southwark crown court.
The pair will be sentenced at a later date and face a maximum of seven years in prison as well as a confiscation order. The longest sentence handed down for being convicted of insider dealing in the UK is the four years given to Richard Joseph in 2013.
The Financial Conduct Authority alleged that Dodgson had handed inside information he had discovered through his work to Hind, who was then alleged to have passed it on to two other men to trade on their behalf. It was alleged that the group, which also included another corporate broker, then split the profits, which the FCA claimed totalled £7.4m.
The three other alleged participants were all acquitted. They were: Andrew “Grant” Harrison, 46, who also worked in corporate broking and who was alleged to have played a similar role to Dodgson; Ben Anderson, 71, a day trader; and his former business partner, Iraj Parvizi, 50, who rose to prominence in the City after working in a Kent kebab shop.
Anderson and Parvizi admitted adding their own funds to investments carried out on behalf of Hind, but both insisted they had no reason to suspect his stock picks were based on price-sensitive insider information. In order to be convicted of insider dealing in the UK, the jury has to be satisfied that defendants were aware they were trading on inside information...
For full story: https://www.theguardian.com/business/2016/may/09/former-deutsche-bank-boss-martyn-dodgson-guilty-insider-dealing
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Coming and Going Concerns - The latest professional moves in the bankruptcy and restructuring world
May 10, 2016 | The Wall Street Journal
By Melanie Cohen
David Ampaw and Chris Parker have been promoted to partner in the restructuring group in DLA Piper’s London office. Mr. Ampaw has advised clients in restructurings, workouts and insolvencies in the U.K. and abroad, and he has experience in the oil and gas industry. Mr. Parker has experience with fraud, investigations and litigation in complex restructurings. He also worked on Lehman Brothers’ bankruptcy case in Europe.
William Ellis has joined the Akerman firm as a partner. Mr. Ellis, who will work in the real estate group, has experience in real estate workouts and restructurings, financings and corporate mergers and acquisitions. He has represented hotels, banks, lenders and other parties. Mr. Ellis earned his law degree from the University of Michigan.
Doron P. Kenter has joined the restructuring and business bankruptcy group of law firmRobins Kaplan as counsel. Mr. Kenter, who will work in New York, has represented debtors in chapter 11 cases including Lehman Brothers and Deb Shops...
For full story: http://blogs.wsj.com/bankruptcy/2016/05/09/coming-and-going-concerns-41/
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Robins Kaplan Hires Ex-Weil Restructuring Atty In NY
May 9, 2016 | Law 360
By Jody Godoy
Robins Kaplan LLP has brought aboard a bankruptcy attorney from Weil Gotshal & Manges LLP who has represented debtors includingLehman Brothers in complex Chapter 11 proceedings, the firm announced on Monday.
Doron P. Kenter joins as of counsel in Robins Kaplan's New York office, bringing with him more than six years of experience representing debtors, secured lenders, creditors and other parties in restructuring proceedings.
Kenter told Law360 the firm gives him the chance to build on his experience representing parties in bankruptcy litigation as well as working for banks, hedge funds and others who want to buy distressed assets.
“Robins Kaplan offered a unique opportunity for me because it is really looking to grow its bankruptcy practice while having a really strong litigation platform,” Kenter told Law360.
During his time at Weil, Kenter handled several matters for Lehman Brothers Holdings Inc., including getting a judge's approval for a Lehman subsidiary to sell a Florida hotel for $21.6 million.
Kenter was part of a team that saw aluminum firm Aleris International Inc. restructure $4 billion in debt via a Chapter 11 proceeding. The company's plan was approved in 2010 after it forged a crucial deal resolving claims against its holding company, Aleris Deutschland Holding GmbH.
The former associate represented Deb Stores Holding LLC in the retailer's bankruptcy, including the court-approved sale of most of its assets.
Kenter has also cultivated an active pro bono practice, which includes winning a Second Circuit decision for the East End Eruv Association. The group had fought to install strips on telephone polls that mark a symbolic boundary important to a particular practice of the Jewish Sabbath. The Second Circuit found the unobtrusive and privately financed markers were not unconstitutional.
Looking ahead, Kenter said he expected to see continued developments around which courts hear bankruptcy-related disputes...For full story: http://www.law360.com/articles/794100/robins-kaplan-hires-ex-weil-restructuring-atty-in-ny
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Former Lehman Personnel
Former Lehman Litigator
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