Background: Oil Employees prosecuted for illegal insider trading
– I know nothing about this matter, says CEO of Baker Hughes Norway, Alasdair Shiach, to Aftonbladet.
Three men at 62, 51 and 39 years has been indicted for insider trading by the former and the latter bought shares in oil company Rocksource. The purchase must according to Økokrim have happened after the 51-year-old and 39-year-old had used information they had access by virtue of their positions with Baker Hughes to buy SHARES Rocksource (39 year old) or give information to others (51- old). The Baker Hughes employees should have known about hydrocarbon discoveries in oilfield Arrow in the Norwegian Sea. This was information that were not yet known to the public.
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Rocksource’s share went from a value of NOK 1.07 to NOK 2.33 as this information was known. 39-year-old who had bought shares for 25,000 dollars, and 62-year-old who had bought for 800,000 dollars, earned less done on buying stocks before the price went up in the air.
– The two Baker Hughes employees have done, they have done as individuals who happened to be employed by Baker Hughes, says Shiach.
– According to Økokrim has the advantage of information gained through work in Baker Hughes …
– I know nothing about so I can not comment on anything. I have not been in contact with Økokrim, says Baker Hughes boss.
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