Bloomberg News

Ex-Deutsche Bank Broker in Insider-Trading Case Granted Bail

October 19, 2012

Former Deutsche Bank AG (DBK) managing director Martyn Dodgson and three others charged with insider trading were given unconditional bail while they await trial.

Dodgson, Andrew Hind, Benjamin Anderson and Iraj Parvizi had their cases transferred to Southwark Crown Court in London for further proceedings on Dec. 21 following a magistrates court hearing today. The men were charged with conspiracy to commit insider dealing earlier this month following a two-and-a-half- year investigation by the U.K. Financial Services Authority.

Neil Saunders, a lawyer for the FSA, told Judge Howard Riddle the men should be released without any bail conditions. Today was the first court appearance for the defendants, who were charged at police stations.

Dodgson, who was employed by Deutsche Bank at the time of his arrest in March 2010, Hind, Anderson and Iraj Parvizi were charged with “conspiracy to insider deal” between Nov. 1, 2006, and March 23, 2010. The FSA alleges the men made more than 3 million pounds ($4.8 million) on improper trades.

The charges stem from an investigation known as Operation Tabernula, Latin for little tavern. The FSA arrested seven people and raided 16 addresses in London and southeast England in March 2010 as part of the crackdown. Two more arrests came later.

Tabernula, conducted along with the U.K. Serious Organised Crime Agency, is the “largest and most complex insider dealing investigation to date,” the regulator said.

To contact the reporters on this story: Lindsay Fortado in London at

To contact the editor responsible for this story: Anthony Aarons at

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