Matthew and Nikolas West have been convicted of confidential transactions in a prosecution by the United Kingdom’s financial behavior authority (FCA).
Matthew West was sentenced to 15 months in prison, suspended for 2 years, along with a 200 -hour job requirement. Nicholas West was sentenced to 6 months in prison, suspended for 12 months.
The brothers were both experienced traders with over 20 years of experience in the United Kingdom and abroad, with an extensive network of contacts throughout the investment community.
FCA has revealed their offense through market surveillance tools used to detect suspicious behavior. A subsequent survey found that in a matter of minutes of receiving confidential information, the brothers had coordinated and executed transactions, earning profits of about £ 43,000.
However, the court ordered them to return more than £ 280,000 – reflecting the full value of the shares they negotiate through their criminal behavior, not only the profit they made.
Matthew West, the original recipient of internal information, was regularly approached by brokers with investment opportunities, which are subject to strict confidentiality agreements. Opportunities often related to upcoming plans to increase capital in companies imported into the Alternative Investment Market (AIM)-a sub-section of the London Stock Exchange designed for smaller high-growth businesses.
While Matthew West received internal information through legal broker communications, he illegally revealed this information to Nikolaos’ brother.
The messages between the couple revealed specific details of the confidential information they share and showed them to discuss how to make the best profit before the announcements were published.
They then negotiated the information, with most of the transactions taken by Matthew West. Both were fully aware that their actions violated market rules and undermined the integrity of the financial system.
Matthew and Nicholas West said guilty of six cases of confidential transactions on 9 May 2025.