A tip-off from his daughter-in-law has led to a 64-year-old man facing a €16,000 fine for insider trading in Grolsch shares during the Enschede brewing group’s take over by SAB Miller.
In court on Friday, the public prosecution department claimed the man’s son told him that plans were being worked on for a Grolsch takeover in 2007. The son’s wife worked as a senior secretary at Grolsch.
The man is said to have made €23,000 selling Grolsch shares three weeks later after the takeover was publicised. The son and his wife face fines of €2,500 and €1,500 respectively for the tip.
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