Searches took place in Switzerland, Germany and the United Kingdom as part of an investigation into insider trading involving five suspects. The suspects allegedly benefited from confidential, price-sensitive information relating to a listed international IT company based in Switzerland. Authorities are not investigating the company itself.
The five individuals, who allegedly held senior positions at the time, are suspected of selling large volumes of their company’s shares based on confidential information, potentially avoiding financial losses of up to EUR 2.6 million. They sold large quantities of their shares before the company published two pre-market press releases that would negatively impact the company’s share price.
As the suspects and their offices were located in Switzerland, Germany and the United Kingdom, the authorities needed to collaborate closely to exchange information and organise follow-up actions. Through Eurojust, swift and efficient cooperation was achieved, and an action day was organised to search premises and interrogate suspects.
On 2 December, the authorities carried out searches at multiple private residences and company premises, collecting crucial information. Investigations into the suspects are ongoing.
The actions were carried out by the following authorities:
- Switzerland: Office of the Attorney General of Switzerland; Federal Office of Police fedpol
- Germany: Leipzig Criminal Investigation Department, Leipzig Public Prosecutor's Office; Munich Criminal Investigation Department; Munich I Public Prosecutor's Office
- United Kingdom: Crown Prosecution Service; Surrey Police; Sussex Police
Eurojust is an agency of the European Union