Sept. 30, 2021, 11:30 AM
A Frankfurt court convicted a former executive at Union Investment Privatfonds GmbH of insider trading and sentenced him to 3 1/2 years in prison.
In a verdict issued after three days of trial at the Frankfurt Regional Court on Thursday, judges also seized 45 million euros ($52 million) from the man over his illicit trades. The fund manager had admitted to the action in court and told the judges he “deeply regretted” it.
A former employee of German lender Hauck & Aufhaeuser was also convicted and sentenced to a suspended prison term of 1 year and seven months. He had …