Broker accused of profiting from insider information on companies including Anheuser-Busch

19 December, 2008
A Lehman Brothers broker has been accused of running a multi-million dollar trading ring and profiting from information about the recent Anheuser-Busch takeover.

A Lehman Brothers broker has been accused of running a multi-million dollar trading ring and profiting from information about the recent Anheuser-Busch takeover.  

Matthew Devlin, whose wife works for PR company Brunswick, was named in a lawsuit along with eight friends, colleagues and clients in an alleged $4.8million insider trade ring. Devlin has been accused of snooping on his wife to obtain information on several companies, including Anheuser-Busch. 

Mrs Devlin's lawyer said: "She was completely un-aware that confidential information about her job was being used as the basis for securities trading."  

It is alleged that Devlin referred to his wife as the ‘golden goose’ and received gifts from those who benefited from the information. 

Anheuser-Busch InBev declined to comment.  





Comment

Christian Davis

Drinking Danishly

So, Danish brewer is spending £15m on revitalising its flagship Carlsberg Export brand (see news story) and at the core of activity is emphasising the company’s Danish origins.

Click for more »

Events

Facebook

Twitter