A court has today ordered confiscation of more than £1.5m from a pair of convicted insider dealers.

Judge Pegden QC, sitting at Southwark Crown Court, made confiscation orders of £1,074,236 against Martyn Dodgson and £624,521 against Andrew Hind.

The orders must be paid within three months or Mr Dodgson will face a further seven and a half years in prison and Mr Hind will face a further five and a half years.  

The confiscation orders followed an FCA prosecution in which the crooks were convicted of conspiring to insider deal.

The existence of the conspiracy was proved by evidence of insider dealing in relation to five stocks.

The total amounts ordered to be confiscated include profits generated from trading in a further 23 stocks, which the FCA asserted amounted to insider dealing.

Mr Dodgson and Mr Hind did not challenge that assumption in relation to their trading in the additional 23 stocks.

Mark Steward, the FCA’s executive director of enforcement and market oversight, said: “Mr Dodgson and Mr Hind hatched an audacious plan to make significant illegal gains for themselves.

“They were driven by greed and self-interest, but through their actions they have lost their liberty, their livelihoods and their reputations.

“Insider dealing is a serious crime that undermines our markets.

“The FCA will continue to ensure that those engaged in such activity are held to account for their misconduct.”

The pair were convicted on 9 May 2016 following a three-month trial.

On 12 May 2016, Mr Dodgson was sentenced to four and a half years’ imprisonment and Mr Hind was jailed for three and a half years.

The conspiracy operated between 1 November 2006 and 23 March 2010.