Burrups insider dealing trial begins

The trial of Richard Spearman, accused of conspiracy to defraud, heard how proofs originating from St Ives Burrups were found at a business address in Essex.

A statement from St Ives Burrups operations director Elaine Jackson was read to the jury, of nine men and three women, confirming that documents found by police at Epping Paving & Building Supplies in 2001 had come from the financial printer.

The Crown, represented by Tim Langdale QC, alleges that Richard Spearman made an estimated 200,000 from illegal share dealing from 1997 to 2001 using information passed on by an employee of financial printer St Ives Burrups. Richard Spearman denies the charges.

The court was told of the conviction last year of three other people involved in the alleged insider-dealing ring after they pleaded guilty. They were the former St Ives Burrups employee, Norman Payne, as well as Richard Spearmans wife Catherine, from whom he was separated, as well as Michael Smith.

Catherine Spearmen and Smith both worked at Epping Paving & Building Supplies.

Richard Spearmans former broker from Laing & Cruickshank Investment Management told the court that the company had stopped handling his transactions primarily due to concern about the trading.

The Serious Fraud Office accepted the case for investigation in March 2001 following referral by the DTI.

The trial, heard in front of Judge Rivlin QC, continues.

By John Davies