A former Hoare Govett intern and his dentist father who scooped £110,000 profits in illicit share deals were yesterday convicted of insider trading following a Financial Services Authority-led prosecution. Both now face jail sentences.
Neel Uberoi, 62, from Kenley, Surrey, and his son Matthew, 24, of Fulham, London, were both found guilty on 12 of the 17 insider trading charges they faced. The charges related to share purchases in three Hoare Govett clients: NeuTec Pharma, Gulf Keystone Petroleum and Birse Group. The pair were found not guilty on five charges, four of which related to NeuTec share purchases and one which related to a GKP share deal.
During the two-week trial the court heard how Matthew, who in 2006 was on a six-month university placement at the firm, passed secret information to his father about companies Hoare Govett was advising. The jury heard that Matthew used secret code words related to Chinese food to tell his father to buy shares in the companies, after gleaning
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