Four men arrested in market abuse investigation released without charge

The four men were detained at garda stations in the east of the country prior to their release. 

Four men arrested this week as part of an investigation into suspected insider dealing have been released without charge.

Following a two-day investigation into breaches of the European Union (Market Abuse) Regulations 2016, detectives from the Garda National Economic Crime Bureau (GNECB) arrested four people.

On Tuesday, gardaí arrested two men, aged in their 70s and 50s, on suspicion of market abuse, contrary to Regulation 5 of the European Union (Market Abuse) Regulations 2016.

They were detained at a garda station in the east of the country in accordance with Section 4 of the Criminal Justice Act 1984.

They have since been released without charge, and a file will be prepared for the Director of Public Prosecutions (DPP).

Two further arrests

On Wednesday, a further two men, aged in their 60s and 50s, were arrested on suspicion of market abuse under the same regulation.

They were also detained at a garda station in the east of the country in accordance with Section 4 of the Criminal Justice Act 1984.

They were released without charge on Thursday morning, and a file will be prepared for the DPP.

The investigation followed work by the Central Bank of Ireland, which led to a formal referral to the GNECB pursuant to Section 33AK of the Central Bank Act 1942.

According to An Garda Síochána, the investigation by the GNECB has progressed with the assistance of personnel attached to the Central Bank of Ireland, whose expertise was described as “invaluable”.

“This investigation is one of a number of ongoing investigations for Market Abuse at the GNECB,” the spokesperson added.

“Investigations are ongoing.”