Mr Mohammed Zina was today found guilty of six offences of insider dealing and three offences of fraud following a 12-week trial at Southwark Crown Court brought by the UK Financial Conduct Authority (FCA).
Between 2014 and December 2017, Mohammed Zina worked as an analyst at Goldman Sachs International. Through his role in the Conflicts Resolution Group, which he joined in 2016, he came into possession of inside information relating to potential mergers and acquisitions that his employer was advising on.
Between 15 July 2016 and 4 December 2017, Mr Zina dealt in six shareholdings using this inside information: Arm Holdings plc; Alternative Networks plc; Punch Taverns plc; Shawbrook plc; HSN Inc; and Snyder’s Lance Inc.
The total profit from trading in these stocks was approximately £140,486.
The trading was partly funded by three loans, fraudulently obtained from Tesco Bank, totalling £95,000.
He will be sentenced on Friday 16 February at 10am.
Suhail Zina was acquitted of all counts against him at the same trial after the fraud charges were discontinued and there was found to be insufficient evidence in relation to the insider dealing counts.
Insider dealing is a criminal offence punishable, on conviction, by a fine and/or up to seven years’ imprisonment for offences committed before 1 November 2021. This was increased to 10 years for offences committed on or after 1 November 2021. Fraud is punishable by a fine and/or up to 10 years’ imprisonment.
