Former Manager Jailed for Insider Trading and Money Laundering

The UK Financial Services Authority (FSA) has announced that former PM Onboard Limited (PM) senior manager Neil Rollins has been jailed for 27 months on five counts of insider trading and four counts of money laundering for trading on the basis of information obtained as a result of his position, and then laundering the proceeds. Mr Rollins sold his entire PM shareholding based on information he had on the company’s deteriorating financial condition, and subsequently laundered the proceeds when he became aware of FSA’s interest in his dealing.
FSA’s media release (21 January 2011)
(Source: FSA)