Jeweler Too Ill to Stand Trial in U.K. Insider-Trading Caseby
A jeweler charged in the U.K.’s biggest insider-trading prosecution won’t stand trial in January because of health concerns.
The January trial will proceed with five other defendants after a London judge was told by lawyers that the 48-year-old man, Richard Baldwin, is too ill to endure a full trial. A decision about how to proceed with the charges will be made at a later date, Judge Jeffrey Pegden said.
Baldwin is part of a Financial Conduct Authority investigation dubbed Operation Tabernula, Latin for “little tavern,” started after the 2008 financial crisis as part of a wider push to crackdown on insider trading in the U.K.
Baldwin was charged with three counts of insider dealing and acquiring money “being the proceeds of crime,’ in 2012, prosecutors said in an indictment. He hasn’t entered a plea.