(Bloomberg) – An analyst accused of insider trading said he did not read the compliance documents closely because he was too busy trying to save the company's “dying fund.”
Redinel Korfuzi is accused of working with his sister and others internal information he obtained while working as an analyst at Janus Henderson's European Equity Investment Team.
The Financial Conduct Authority, which sued the case, said he helped his sister, girlfriend and personal coach make brief bets on the stock before issuing new shares to the market.
“I'm working for this job 24/7,” Kovzi said Thursday at Southwark Crown Court. “I saved their dying fund, which is perhaps the best performing fund in Europe.”
Prosecutors said Korfuzi, a mutual fund analyst, would be reluctant to provide internal information to potential investors with increased equity firms, prior to his arrest in March 2021.
The online trading account managed by Korfuzi's sister made many short bets using the difference contract – in fact, stocks would effectively leverage derivative bets.
After Redinel Korfzi was told a company would issue new shares in part of the Janus Henderson position, the two usually put the bet after a few minutes after working with each other during the pandemic lockdown in 2020 and early 2021.
Compliance documents sent to Korfuzi require him to disclose the transaction activity, but he told the court that he did not read the document closely when he was busy rescuing Janus Henderson's sick portfolio.
“I'm very busy saving dying funds,” he said in court.
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