Consultant sentenced to two years jail for insider dealing

A LONDON management consultant was sentenced to two years in prison after being convicted of making about £500,000 (€586,146) using confidential tips from a hedge-fund trader.

Jurors found Rupinder Sidhu guilty on 22 of 23 insider dealing charges yesterday, said Chris Hamilton, a spokesman for the UK Financial Services Authority. A separate charge of money laundering wasn’t considered.

Sidhu, 40, used information from AKO Capital LLP trader Anjam Ahmad about the hedge fund’s trading plans to spread bet on companies including Julius Baer Group Ltd., Swatch Group AG and Michael Page International Plc between June and August 2009, prosecutors said.