The Financial Conduct Authority (FCA) has secured convictions against Redinel Korfuzi and Oerta Korfuzi for insider dealing and money laundering offences that generated over GBP 1 million. Redinel Korfuzi, a research analyst at an asset management firm, obtained confidential, price-sensitive information through his role and conspired with his sister between 17 December 2019 and 25 March 2021 to trade ahead of market announcements in shares of at least 13 companies. Trading was carried out via accounts held by Oerta Korfuzi, a personal trainer (Rogerio de Aquino) and a partner (Dema Almeziad), using contracts for difference to take positions that the share prices would fall and closing positions after announcements; the FCA said its market monitoring systems detected the activity despite efforts to conceal Mr Korfuzi’s involvement. The Korfuzi siblings were also convicted of money laundering for receiving cash derived from the proceeds of crime and making 176 cash deposits totalling GBP 198,210, with the source of that cash stated to be unrelated to the insider dealing; de Aquino and Almeziad were acquitted. Sentencing for Mr and Ms Korfuzi is scheduled for 4 July 2025, and the FCA will apply for confiscation orders to recover the proceeds of crime. A separate trial for a fifth defendant, Iva Spahiu, has been fixed for 28 June 2027, with temporary reporting restrictions in place regarding evidence about her alleged involvement.

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