Paul Coyle, former treasurer and head of tax at Morrisons faces a 12 month jail sentence for insider training. Coyle had bought Morrisons shares in his partner’s name prior to the supermarket chain’s announcement of its arrangement with Ocado to drive online sales. Coyle had then sold the shares for a profit when the news broke. His sentence may be lengthened if he does not repay a total of £203,234 which is the value of the shares bought and the profit made from the deals, plus £15,000 in costs.
Share