Ex Logica finance manager given 10-month sentence for insider dealing

Ryan Willmott, the former group reporting and financial planning manager for Logica plc, who pleaded guilty to three counts of insider dealing on 26 February 2015, has been sentenced to 10 months imprisonment at Southwark Crown Court. He was also ordered to pay £6,122 towards prosecution costs and a Confiscation Order in the sum of £23,239.75

Willmott admitted dealing on the basis of inside information he obtained during the course of his employment relating to the takeover of Logica plc by CGI Group, as publicly announced on 31 May 2012.

He set up a trading account in the name of a former girlfriend, without her knowledge, to carry out the trading. He also admitted disclosing inside information to a family friend, who then went on to deal on behalf of Willmott and himself.

Georgina Philippou, acting director of enforcement and market oversight said: ‘Ryan Willmott engaged in insider dealing with no regard for the consequences for himself and others, and with an expectation that he would avoid detection.  This prosecution sends a clear message to those who are tempted to abuse their position by disclosing or trading on inside information. 

‘We will not hesitate to take robust action where individuals threaten the integrity of the UK financial markets.  The custodial sentence received by Mr Willmott today is a reminder of the serious consequences for insider dealing.’

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