|
|
Article: Norwegian police charge five in insider trading case
- Article from:
- AP Worldstream
- Article date:
- June 16, 2008
CopyrightCopyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. (Hide copyright information)
|
Five people, including the founder of the Scandinavian investment house Acta, are under investigation in what police on Monday called one of Norway's biggest insider trading cases.
Police said four men, one woman and two companies face preliminary charges of illegal transactions with Acta shares worth 100 million kroner (US$20 million) as part of an organized crime network.
"This is one of the biggest cases in Norway, the way it looks now," Gro Stangeland, of the Stavanger police, said at a news conference. "They were organized as a criminal group."
A conviction for insider trading as part of an organized crime network carries a maximum sentence of ...