Ex-Blackrock Portfolio Manager Sentenced To 12 Months In Prison For Insider Trading

by Tyler Durden
ZeroHedge.com
Dec 21, 2016

Former Blackrock star portfolio manager Mark Lyttleton, 45, has been sentenced to 12 months in prison after pleading guilty to an “elaborate web of insider trading, using offshore companies, unregistered mobile phones and cash payments.” Lyttleton was arrested at his west London home in 2013 as part of an investigation, known as Operation Rye, by the U.K. Financial Conduct Authority. The ex-portfolio manager, who was based in BlackRock’s London office, ran funds including the BlackRock U.K. Dynamic Fund and the BlackRock U.K. Absolute Alpha Fund, once overseeing as much as 2 billion pounds.

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