FSA's 1st Insider Trading Jail Term Goes To TTP Exec

Law360, New York (March 30, 2009, 12:00 AM EDT) -- A London court has sentenced a former general counsel of TTP Communications to eight months in prison after a jury convicted him of making a profit from passing on insider information about Motorola Inc.’s plans to acquire TTP, marking the first jail term that the U.K.’s Financial Services Authority has secured in an insider trading case.

Southwark Crown Court handed down the sentence for Christopher McQuoid, 40, on Monday.

McQuoid’s father-in-law, James William Melbourne, 75, also received an eight-month prison sentence, but the court suspended it...
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