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A former Goldman Sachs analyst found guilty of initiating negotiations and fraud must pay more than half a million confiscation books, tried a London court.
Mohammed Zina, who was convicted of the transmission initiate last year and sentenced to 22 months in prison, was sentenced Wednesday to pay £ 586,711 by a Southwark Crown Court judge, according to the court and the financial conduct Authority, who continued the case.
The court concluded that Zina had benefited from 1.1 million pounds sterling of her conduct, which included the negotiation of initiates and the fraudulently constraint of Tesco Bank loans. Zina was ordered to pay the amount available from her current assets, according to the FCA and the judicial archives.
Zina, 36, was continued alongside her brother, a former lawyer for the British company of the “Magic Circle” Clifford Chance in one of the cases of the most prominent initiates of the FCA in recent years. A jury unanimously recognized Zina guilty of the nine counts of crime and fraud of initiates.
Zina’s brother Suhail Zina was acquitted before the end of the trial after the FCA withdrew the number of fraud against him and the court judged that there was no case to answer.
During the trial, the jury learned how Zina had made around £ 140,000 of profits from negotiations on actions, including semiconductor designer weapons and a Punch Taverns pub company. His biggest gain was about £ 55,000 in profits on the professions of the American food company Snyder’s-lance.
“I can’t help but feel pity on you, because you have thrown what was undoubtedly a promising career in banking services,” said Judge Tony Baumgartner during the conviction of Zina in February of the ‘ last year. “Your reputation is now lost, and it is likely that you no longer trust yourself to work again in a position of such responsibility.”
The Zina affair was the first conviction for the FCA initiate for the agency in five years, after a fallow period for the regulator partly affected by the pandemic and the arrears of Corvid-19 and the courts. The number of initiate traffic cases has since resumed with a number that currently goes through the courts.
Zina has three months to pay the confiscation order. The non-payment would result in a default prison sentence of five years.
“Initiate treatment affects the integrity of our markets. In addition to continuing the initiate dealers, we do not allow them to maintain part of their illicit profits, “said Therese Chambers, joint executive director of the application and monitoring of the FCA market, in a press release .
A lawyer from Zina did not immediately respond to a request for comments.
