Investment banker jailed for helping his two lovers make more than 1.5m by leaking confidential inside information
Thomas Ammann persuaded two girlfriends to invest in shares in Dutch photocopy company Oce, knowing they were going to go up in price
Love-rat netted close to 500,000 after agreeing to split profitsBanker jailed for two years and eight months today after pleading guilty to two counts of encouraging insider dealing and two counts of insider dealing
01:15 GMT, 14 December 2012
Thomas Ammann, 39, pictured yesterday as he was jailed, handed over price sensitive details to his two girlfriends about a takeover bid
The serial love-rat who tricked two of his girlfriends into carrying out illegal trades worth almost 1.8million was jailed for two years and eight months yesterday.
Thomas Ammann, who wears a toupee, persuaded Christina Weckwerth and Jessica Mang to buy and sell shares in a firm he knew to be the subject of a future City takeover bid.
Ammann, who worked at the London offices of Japanese bank Mizuho, was one of only seven at the bank who knew that global electronics company Canon was planning a takeover of Dutch printing firm Oce.
His two girlfriends, who had no knowledge of each other, bought and sold shares in Oce when Ammann told them to do so.
The women almost doubled their investments and paid Ammann about 50 per cent of their profits.
They said they had no idea his share tips were coming from sensitive insider information and were cleared of any wrongdoing last month. When police arrested Ammann, 39, in his central London home, he was in bed with a Japanese woman.
At some point, he started a relationship with a fourth woman who gave birth to their baby son six weeks ago. She fled home to China when the extent of his murky dealings emerged.
Jailing Ammann at Southwark Crown Court yesterday, Judge Anthony Leonard QC said he ‘manipulated’ his two girlfriends to make substantial profits.
He said: ‘The City has been held in increasingly low esteem over recent years, not least because of the activities of a few unscrupulous and dishonest persons.’ Ammann, a German national, pleaded guilty to two counts of encouraging insider dealing and two counts of insider trading earlier this year.
The banker, who earned 80,000 a year, had got into serious debt after three properties he bought dropped in value.
Jessica Mang arriving at Southwark Crown Court in October, left, and right, Christina Weckworth on the same day. Both were persuaded to invest their money in Oce shares
To claw back his money, he persuaded
Miss Weckwerth, 44, who lives in Frankfurt, to invest 808,000 which she
had received as part of a divorce settlement.
While still in a relationship with Miss Weckwerth, he started dating Miss Mang, 30, after meeting her in a London nightclub.
Leonard said: ‘She did not have as much money to invest but, in order
to further a loving relationship with you which she craved, she scraped
together every penny she could get her hands on and was able to amass
39,000 from money that she had set aside to pay her tax and from
borrowing on credit cards.’
Miss Weckwerth and Miss Mang have been allowed to keep the profits of their trades after being cleared of insider trading.
Southwark Crown Court heard prior to the trade Ammann was almost penniless and 'lived beyond his means'