Operation Tabernula Acquittal

Jun 7, 2016

Byrne and Partners LLP acted for Benjamin Anderson in a trial for conspiracy to insider deal.

Anderson was charged with four others, Martyn Dodgson, Andrew Hind, Andrew Grant Harrison and Iraj Parvizi. After an eight year investigation, three and a half month trial and eight days of jury deliberations, Mr Anderson along with Mr Parvizi and Mr Harrison were acquitted.

It was alleged that Dodgson and Harrison passed information they gleaned from their jobs to Hind who then used it to place orders to trade through Anderson and Parvizi. Anderson and Parvizi were prolific day traders who placed many spread bets each day in various sectors. Both maintained that they did not know or have reason to think that Hind’s trades were informed by inside information.

There were roughly 59 trades placed for Mr Hind in the 3.5 year indictment period with the FCA arguing that the men would sometimes insider deal seeking to prove this through six overt acts of insider dealing.

The jury convicted Dodgson and Hind by majorities of 10-2.

On Anderson’s behalf, the legal team prepared and took Anderson and the jury through a detailed set of trading schedules which profiled each of the stocks traded on Hind’s behalf, a bundle of his handwritten trading notes arranged in chronological order detailing profits and losses and schedules of relevant telephone contact illustrating the distance between Anderson and the others in the alleged conspiracy.

Mr Anderson was represented by Michael Potts, Catherine Robinson and Tom Orange and counsel Ian Winter QC (Cloth Fair Chambers) and Robin Barclay (Outer Temple Chambers).