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Working from home during the coronavirus pandemic gave a former analyst at fund manager Janus Henderson cover to operate an insider-trading scheme from a flat in central London, a court has heard.
Redinel Korfuzi, 37, went on trial on Thursday alongside his sister Oerta Korfuzi, 36, and two other alleged members of a ring that placed illegal bets in financial markets.
Prosecutors at the Financial Conduct Authority have accused Korfuzi of gleaning confidential information from his job at Janus Henderson to enable the activities.
The four defendants in the case, who also include Rogerio de Aquino, 63, and Dema Almeziad, 40, are charged with one count of insider dealing and one count of money laundering between 2019 and 2021.
Charges have also been brought against Iva Spahiu, 37, but jurors were told she would not be tried now as she was found to be unwell.
All the individuals deny the charges.
Briefly setting out the prosecution’s case at London’s Southwark Crown Court, Tom Forster KC said the defendants “took advantage of the cloak afforded by national lockdown restrictions . . . to conduct criminal trading when the opportunity arose”.
A flat in Marylebone where Korfuzi lived with his sister was the “heart of the enterprise”, Forster said.
He said Redinel Korfuzi, who worked as a European equities research analyst at Janus Henderson, was “at the centre” of the scheme.
This is a developing story
