Ex-Banker Cleared After Deleting Texts While Under Arrest
- Vishnyak had been charged with destroying documents by FCA
- FCA had dropped insider trading charges against ex-VTB banker
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Konstantin Vishnyak, a former VTB Capital Plc banker who deleted his Whatsapp messages “under the noses of the police,” was acquitted by a London jury, dealing a blow to the Financial Conduct Authority’s pursuit of insider dealing.
Vishnyak was found not guilty after jurors deliberated for slightly more than 3 hours and was promptly released by the judge. Prosecutors at the FCA had alleged that the 42-year-old banker removed the application knowing that it might be relevant to an insider-trading investigation.