LONDON Dec 21 A former fund manager at the
London division of the asset manager BlackRock Inc on
Wednesday was sentenced to 12 months in jail after pleading
guilty to two counts of insider dealing.
Mark Lyttleton admitted buying shares shortly before the
public announcements about EnCore Oil Plc and Cairn Energy
after hearing privileged information from colleagues.
Lyttleton, who was arrested in 2013, dealt through an
overseas asset manager trading on behalf of a Panamanian
Lyttleton is one of the highest profile figures in Britain
to be sentenced for insider trading. His funds were popular with
investors during the financial crisis as he posted positive
returns and at the peak he personally managed assets worth about
4.5 billion pounds ($5.6 billion)
($1 = 0.8079 pounds)
(Reporting by Andrew MacAskill, editing by Huw Jones)