I haven’t updated the International Insider Trading Case Map in way too long but when I do, I’ll be adding Estonia to the list.  Last week, Estonian prosecutors charged a former analyst at SEB Enskilda AS with insider trading in the shares and options of Baltic telecommunications firms AS Eesti Telekom and TEO LT.

According to prosecutors, analyst Dmitri Vassiljev traded based on his access to nonpublic information on TeliaSonera AB’s offer to buy out minority shareholders in the two companies.   Eesti Telekom rose 23 percent and TEO jumped 30 percent after the offer was announced, allegedly giving Vassiljev 1.5 million krooni ($142,700) in illegal profits.

Bloomberg reports that Vassiljev has “agreed with the charges he is facing,” which carry a fine and a prison term of up to 3 years. The insider trading charges against Vassiljev are reportedly the first such charges ever brought in an Estonian court (which Lohmus Haavel & Viisemann and certain of its employees are probably quite happy about).