UK Jury Convicts 2 In Debut Criminal Trading Case

Law360, New York (March 27, 2009, 12:00 AM EDT) -- The former general counsel of TTP Communications and his father-in-law have been convicted of turning a profit from stock purchases based on insider information that Motorola Inc. was planning to take over TTP, in the first criminal insider trading trial to be brought by the U.K.’s financial services watchdog.

On Friday, a jury in Southwark Crown Court in London found Christopher McQuoid, 40, and James William Melbourne, 75, guilty of splitting gains of about £50,000 ($72,000) from the purchase of TTP stock before the company revealed...
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