Idman.biz
Former Barcelona and Spain footballer Gerard Pique has been fined 200,000 euros (400,000 AZN) for using insider information to trade shares.
Idman.Biz reports that the Spanish National Securities Market Commission (CNMV) found the former defender guilty of committing a "very serious violation." According to the official decision, Pique bought 104,166 shares of Aspy Global Services on January 20, 2021. At that time, he had prior non-public information that Atrys Health was in negotiations to acquire Aspy Global Services.
The information was officially announced on January 22. After that, Aspy Global Services shares rose in value, and Pique sold those shares on January 27, generating economic profit. According to the Financial Times, the value of the shares increased by approximately 20 percent during this period.
It is alleged that businessman Francisco Jose Elias Navarro passed the confidential information to the footballer. The CNMV also fined him 100,000 euros (200,000 AZN) for illegally sharing insider information.
