Jessica Mang, who traded material non-public information based on tips obtained by her Mizuho investment banker boyfriend, Thomas Ammann, because he promised to take her on vacation afterward and also because she thought his entrusting her with such a high level task was a sign he wanted to get serious, was cleared by a jury today, as was Christina Weckwerth, Thomas Ammann’s other girlfriend/execution trader.
The women nearly doubled the amount they invested and then paid half of their profits to Ammann, the U.K. Financial Services Authority, which prosecuted the case, had said during the trial in London. Neither woman knew Ammann was dating the other simultaneously. Ammann, a German national who worked on the Mizuho mergers and acquisitions team that advised Canon on the OCE deal, pleaded guilty earlier this year to insider trading and encouraging Mang and Weckwerth to commit insider trading. Canon, the Tokyo-based maker of cameras and photocopiers, agreed to buy OCE in a 730 million-euro ($931.8 million) deal in November 2009. The FSA said that Ammann tried to avoid being caught by having his girlfriends make the trades. “The charges against Weckwerth and Mang were serious and we considered that the evidence provided a proper basis to put the case before a jury,” Tracey McDermott, the regulator’s director of enforcement and financial crime, said in a statement.
Weckwerth, who has British and Cypriot citizenship, took in nearly 2 million pounds ($3.2 million) after investing 1 million euros before the deal in 2009, the FSA said at trial. She argued that she bought shares of OCE only after she researched Ammann’s recommendation. Mang, who got back 65,000 pounds on a 39,000-pound stake, said she bought the shares at Ammann’s request because she wanted to show him that she trusted him and was trying to build their relationship.
Follow-up questions that need answering:
* Did the ladies, who hadn’t known about the other’s existence until they were tried alongside one another over a four week period, become friends?
* Will they buy something nice for themselves with the profits they were allowed to keep?
* What are the odds Jessica “ma petite due diligénce” Mang will go out with Ammann again if he calls? High to pretty high?
Ex-Mizuho Banker’s Girlfriends Not Guilty of Inside Trade [Bloomberg]
Earlier: Woman Who Insider Traded On (Two-Timing) Boyfriend’s Behalf Did So In The Hopes Of Taking Relationship To The Next Level
That guy looks like a cross between and young Gerard Depardieu and Harry Dunne.
"a" not "and"
c'est le bullshite…
what an anti-climatic ending for this tranny love triangle story
Ladies and gentlemen of the jury, I present the accused. As you can clear see, the accused is a woman. We all know that women do not know what they are doing, nor do they know right from wrong. If the penis fits, you must acquit.
The blow jobs must have been epic.
comma, Gerry Dep
The slouching Slovakian chick yesterday. Jefferies bought out by a slaughterhouse. UBS RIF the day of Hurricane Sandy (and then the awkward hire-back). Actually, just: UBS. And now today you've got this bruiser on the left and the frumpy betch with the latte in the middle.
As my friend Friedrich might have put it: Wall Street is dead.
The blow jobs following the million pound gain must have been epic.
Fixed.
I would trade anything not to be inside her.
-Guy with a fondness for the mental well being of his penis
I wonder what would have happened if a woman investment banker did the same thing with some mimbo guy
Investing neophytes randomly investing a million bucks in a company that was about to be acquired by one of the largest electronic manufacturers in the world sounds like pure beginners luck to me!
- SEC
"A fondness for the mental well being of his penis" is making my head explode. Excellent turn of phrase there, Guest. xoxo
Keep telling yourself that you're not getting laid for the "mental well being of your penis" I'm sure that's the reason!
I predicted you would think about a penis today.
Stop fretting and roll the dice for once!
- your penis
Worst comment ever.
pmco, when I'm sharing a bed with a young vixen, I leave my phone locked, but with vibrate and text preview on. When I'm asleep and my iPhone is buzzing at 3 a.m. from drunk-texting 23 yos, I feel like no girl can resist investigating. The result: the girl sees that you're in demand, without knowing the context or depth (lack thereof) of your relationship with the texting cuties. Demand -> Competition -> the iPhone snooper delivers stronger performances in the sheets. Bedroom capitalism if you will. Do you agree with my theory?
What kind of royalties is she getting from Starbucks
You may have missed some factors in your equation. Demand is usually greatest for a superior product at a reasonable price point. Ponder that, little Grasshopper.
Don't get all hyper-literal on me
Serious talk time, wtf happened here. You can actually use the,"yeah it was insider information, but I didn't rely on it," defense successfully!?!?!
Note to all heavy set Europeans. If your fat you cannot and should not attempt to pull off the skinny tie slim fit look. And also note to the fluffy asian…you can do better, maybe not much better but definitely better then this asshole.
I predicted you would engage in this incorrect analysis of my comment.
forget to sign in on this one, laxbro/n'08? as always, you suck.
texting is for fags
*after the verdict *
Miss U Ho
30 yo busted asian chiropractor can do better than a two-timing investment banker? If she could she would..
"you're" otherwise no concerns.
It was over when they put in quotas for women and minorities.
Seems to me that if you're in bed with a girl and she's more interested in the phone on your nightstand than in you, you're doing something wrong.
I mean they're both a little heavy, but not a million pounds…
-Guy who has never left the US or traded FX
Soo, are they available now?
I think the bloated Asian one might be what they call a "value trap."
She's a Mang baby!
A. Powers
after a million pounds, she probably paid to have someone else provide said bj
Very well versed blog you got there and keep up the knowledge spreading
You’ve included all the qualities in good writing I like all in this article. It’s unique, provocative interesting and thought-provoking. I have to agree with your unique viewpoint. Thank you.
Cuddling is for fags.
Apparently 'being a girl' is a legitimate legal defense nowadays. Bat your eyelashes, flip your hair, say you really really liked the guy, and you are all good.
Yes.
GTFO
<img src="http://www.freecouponplace.info/ikea/makt.jpg"/> Found no guilty? They should be double guilty i say!<img src="http://www.freecouponplace.info/xbox/yle.jpg"/>