Plastics Manager Told FCA £180K Share Bet Was Lucky 'Punt'

By Richard Crump (April 25, 2022, 4:50 PM BST) -- An ex-manager at a plastic packaging supplier on trial for alleged insider trading likened his investments to "punts" he made when gambling, according to a transcript of his interview with investigators read out by the prosecution on Monday.

Stuart Bayes, 56, and his friend Jonathan Swann, 51, are accused by the Financial Conduct Authority of trading shares in British Polythene Industries PLC before an announcement in June 2016 that it was being bought by plastic packaging supplier RPC Group PLC.

Bayes, who worked at RPC subsidiary RPC Bebo, told the watchdog in a voluntary interview under caution in 2017 that he...

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