Following a sentencing hearing at Southwark Crown Court, Mohammed Zina, 35, was today sentenced to 22 months in prison for insider dealing and fraud.
On 15 February 2024, Mohammed Zina was 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 Financial Conduct Authority (FCA).
Sentencing Mr Zina, His Honour Judge Baumgartner, Recorder of Westminster said:
‘You were under no illusion as to the importance of confidentiality. You betrayed that trust and cheated honest traders. This strikes at the very heart of financial markets and the trust the public places in them.’
The FCA has commenced confiscation proceedings against Mr Zina, with a hearing listed for 27 September 2024.
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.
