Ireland Businessman convicted of insider trading in first such case in Republic
Declan Service, a 63-year-old businessman, was convicted of insider trading, the first court conviction of its kind in the Republic. The offence occurred between 18 and 22 May 2020, and he was arrested after a market abuse investigation by the Garda National Economic Crime Bureau. He was charged with two almost identical offences and his reply at the sending forward for trial was not guilty, but in October 2023 he pleaded guilty at Dublin Circuit Criminal Court to one charge of possessing information used in acquiring and disposing of financial instruments. He was remanded on continuing bail and is due to be sentenced on December 20th.
- Reportednot reported
- Arrestednot reported
- Chargednot reported
- In courtnot reported
- Convicted25 Oct
- Sentenced
Key facts
consolidated from all reports- What happened
- A businessman was convicted of insider trading, the first court conviction of its kind in the Republic.
- Other details
- The suspect is Declan Service, a 63-year-old businessman who lives in Portrush, Co Antrim.
- When
- The offence occurred between 18 and 22 May 2020.
- Where
- The case was heard at Dublin Circuit Criminal Court.
- Investigation
- Service was arrested following a market abuse investigation by the Garda National Economic Crime Bureau.
- Charges
- Service was charged with two almost identical offences, contrary to the European Union (Market Abuse) Regulations 2016 and section 1368 of the Companies Act 2014.
- At the sending forward for trial, Service's reply to the charges was not guilty.
- In court
- In October 2023 Service pleaded guilty at Dublin Circuit Criminal Court to one of the two offences, possessing information used in acquiring and disposing of financial instruments.
- The case had initially been listed only for mention, a brief procedural appearance, rather than a substantive hearing.
- Service was remanded on continuing bail.
- Sentence
- Service is due to be sentenced on December 20th.
10 statements extracted from the articles
- whatA businessman was convicted of insider trading, the first case of its kind in the Republic. (irishtimes.com)
- whenThe offence occurred between 18 and 22 May 2020. (irishtimes.com)
- investigationService was arrested following a market abuse investigation by the Garda National Economic Crime Bureau. (irishtimes.com)
- chargeService was charged with two offences and pleaded guilty to one of them. (irishtimes.com)
- chargeThe guilty plea was to possessing information used in acquiring and disposing of financial instruments. (irishtimes.com)
- courtService appeared before Dublin Circuit Criminal Court and pleaded guilty to one of two almost identical offences. (irishtimes.com)
- courtService was sent forward for trial, and his reply to the charges was not guilty at that stage. (irishtimes.com)
- courtService was remanded on continuing bail. (irishtimes.com)
- sentenceService is due to be sentenced on December 20th. (irishtimes.com)
- otherService lives in Portrush, Co Antrim. (irishtimes.com)
The reporting
newest first- 25 Oct2023Businessman the first person convicted of insider trading by court in Republic
Reports that Service pleaded guilty to one charge of possessing information used in acquiring and disposing of financial instruments, remanded on continuing bail, and is due to be sentenced on December 20th.
convicted, Declan Service, 63, male, named, irish (judged from name)Declan Service