Germany arrests man for suspected M&A insider trading; four other suspects

Floating Storage and Regasification Unit (FSRU) ship "Hoegh Esperanza" arrives in Wilhelmshaven
A German national flag flies at the port of Wilhelmshaven, Germany, December 15, 2022. REUTERS/Fabian Bimmer/Pool

FRANKFURT, Jan 26 (Reuters) - A 47-year-old German man has been arrested on suspicion of insider trading on upcoming M&A deals, one of five suspects who generated millions of euros between 2017 and 2021, Frankfurt prosecutors and German regulators said on Thursday.

The authorities said they had been conducting an investigation since November 2021, and that they carried out multiple searches this week and last in Germany, Britain and Austria, seizing evidence that is now being evaluated.

The German man was arrested on Jan. 18 and remains in custody.

Authorities described profits from the alleged trades as a two-digit million euro figure.

Frankfurt prosecutors and BaFin declined to provide further details on the individuals or their employers.

Reporting by Tom Sims and Marta Orosz, editing by Rachel More, Kirsten Donovan

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