The United Kingdom’s Financial Behavior Authority (FCA) has secured convictions against two people, Redinel Korfuzi and Oerta Korfuzi, for offenses dealing with confidence and money laundering from illegal activities that have gained £ 1 million.
Redinel Korfuzi worked as a research analyst at a asset management company. He received regularly confidential, pricing sensitive information about companies negotiating in the public as part of his role.
Between December 17, 2019 and March 25, 2021, Mr Korfuzi conspires with his sister, Oerta Korfuzi, to use this confidential information to deal with the shares of at least 13 companies before market announcements.
Transactions were executed through accounts held by his sister Mr. Korfuzi, a personal trainer (Rogerio de Aquino) and his partner (Dema Almeziad). They used contracts for the difference (CFD), taking on that the value of the relevant shares would be reduced and closed positions after market announcements.
The suspicious negotiation was detected by FCA market monitoring systems despite their arrangements designed to hide Mr Korfuzi’s involvement in the negotiation and maximize profits.
Mr and Mrs Korfuzi were also convicted of money laundering. Between January 1, 2019 and March 25, 2021, they received dirty cash derived from crime revenue, making 176 cash deposits totaling £ 198.210. The source of the cash is not related to the confidential that is dealing with which they were charged.
Their trade unions, Rogerio de Aquino and Dema Almeziad, were acquitted of all categories.
Mr and Mrs Korfuzi will be convicted on July 4, 2025. The FCA will also apply for confiscation orders to regain crime revenue.