Following a sentencing hearing at Southwark Crown Court, Mohammed Zina, 35, was today sentenced to 22 months in prison for insider dealing and fraud.
On 15 February 2024, Mohammed Zina was found guilty[2] of six offences of insider dealing and three offences of fraud following a 12-week trial at Southwark Crown Court brought by the Financial Conduct Authority (FCA).
Sentencing Mr Zina, His Honour Judge Baumgartner, Recorder of Westminster said:
'You were under no illusion as to the importance of confidentiality. You betrayed that trust and cheated honest traders.
'This strikes at the very heart of financial markets and the trust the public places in them.'
The FCA has commenced confiscation proceedings against Mr Zina, with a hearing listed for 27 September 2024.
Notes to editors
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Mohammed Zina’s date of birth is 17 June 1988.
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Mohammed Zina faced six counts of insider dealing, and three counts of fraud.
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Insider dealing is a criminal offence punishable, on conviction, by a fine and/or up to seven years’ imprisonment for offences committed before 1 November 2021. This was increased to 10 years for offences committed on or after 1 November 2021. Fraud is punishable by a fine and/or up to 10 years’ imprisonment.
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Suhail Zina was acquitted of all counts against him at the same trial after the fraud charges were discontinued and there was found to be insufficient evidence in relation to the insider dealing counts.
- Find out more information about the FCA.