Footballers in insider trading investigation

15th October 2004, Comments 0 comments

15 October 2004, HAMBURG - Local prosecutors confirmed on Friday they are investigating whether Bayern Munich Bundesliga footballers Jens Jeremies, Hasan Salihamidzic and Tomas Linke violated German stock exchange laws in the form of insider trading.

15 October 2004

HAMBURG - Local prosecutors confirmed on Friday they are investigating whether Bayern Munich Bundesliga footballers Jens Jeremies, Hasan Salihamidzic and Tomas Linke violated German stock exchange laws in the form of insider trading.

The investigation is also directed against former SV Hamburg player Joerg Albertz and player agent Juergen Milewski.

"We are investigating in connection with illegal insider trading," said prosecutor Ruediger Bagger.

The statement confirmed a report by the Bild daily which said that all five bought shares in an as yet unidentified Hamburg company in December 2003, a few hours before the company announced it planned a special distribution.

Bild said that one or more of the accused bought 25,000 shares in the company, thus earning EUR 40,000 in one day.

The transactions were discovered by financial overseers who informed the authorities. The houses of all five men were reportedly searched in connection with the case.

DPA

Subject: German news

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