On 19 March 2015, Julian Rifat (a former senior execution trader and portfolio strategist at Moore Europe Capital Management LLC) was sentenced at Southwark Crown Court to 19 months imprisonment, fined £100,000, and ordered to pay costs of £159,402. The Court found that Mr Rifat  had  passed  inside  information,  obtained  during  the  course of his employment, to Graeme Shelley, a broker at Novum Securities. Mr Shelley had then traded on this information for their joint benefit. Judge McCreath commented that Mr Rifat had acted deliberately and dishonestly”, but acknowledged Mr Rifat’s guilty plea and his significant personal mitigation.