Until last month, Christian Littlewood held the dubious record of having received the longest sentence ever handed down in the United Kingdom for insider trading. In February 2011, Littlewood, a former Dresdner Kleinwort investment banker, was sentenced to 40 months in prison for his role in a insider trading scheme that allegedly lasted more than eight years. Littlewood and his wife allegedly made illegal profits of £590,000 from the scheme.
In July 2012, Littlewood’s record sentence fell by the wayside when a British court sentenced James Sanders, a director of a brokerage firm called Blue Index, to four years in prison after he pleaded guilty to 10 counts of insider trading. As of this week, however, Littlewood (and his wife, who was convicted along with him and received a suspended sentence) holds a new, undesirable record: the highest confiscation order ever issued relating to an insider trading conviction. On Monday, the FSA announced that it had obtained confiscation orders totaling £1,534,000 against the Littlewoods, with each of them ordered to pay £767,000.
