FCA secures convictions in £1M insider dealing and money laundering case

The FCA has successfully prosecuted Redinel Korfuzi and Oerta Korfuzi for insider dealing and money laundering, with illegal gains exceeding £1 million.

Redinel Korfuzi, formerly a research analyst at an asset management firm, accessed confidential, price-sensitive information as part of his job. Between December 2019 and March 2021, he conspired with his sister, Oerta, to trade ahead of market announcements in at least 13 companies.

Using accounts held by Oerta, a personal trainer, and a partner, the pair executed trades via Contracts for Difference (CFDs) — betting on share prices falling and profiting after market disclosures. Despite efforts to mask Redinel’s involvement, the FCA’s surveillance systems detected the suspicious activity.

In addition to insider dealing, both were convicted of money laundering after making 176 cash deposits totaling £198,210 from criminal proceeds unrelated to the trading scheme.

Their co-defendants, Rogerio de Aquino and Dema Almeziad, were cleared of all charges.

Steve Smart, Joint Executive Director of Enforcement and Market Oversight at the FCA, said:

“We are dedicated to tackling financial crime and upholding market integrity. Those who exploit inside information for profit will be found and prosecuted.”

Redinel and Oerta Korfuzi will be sentenced on 4 July 2025, and the FCA will pursue confiscation orders to recover illicit gains.