City Dealer Claims He Was Sacked for Whistleblowing; CLIENTS WERE SOLD 'RUBBISH' SHARES, TRIBUNAL IS TOLD

The Evening Standard (London, England), August 2, 2005 | Go to article overview

City Dealer Claims He Was Sacked for Whistleblowing; CLIENTS WERE SOLD 'RUBBISH' SHARES, TRIBUNAL IS TOLD


Byline: PAUL SIMS

A WHISTLEBLOWING City share dealer was sacked after he complained clients were sold "rubbish" shares in failing businesses in order to boost his company's profits, an employment tribunal heard today.

Equity dealer Adam Harvey, 27, says bosses at City Equities knowingly tipped shares in financially troubled firms to its clients in order to make a quick return.

Mr Harvey claims the company bought shares at a discount price and then sold them to clients at a higher price, pocketing the difference. Clients were persuaded to sell reasonably performing stock to buy shares in failing stocks being sold by City Equities, the tribunal heard.

Mr Harvey also claims the firm tried to hide its dodgy dealing.

At Central London employment tribunal Mr Harvey says his firm did not act in the clients' best interest when tipping shares. He claimed the firm bought discounted shares in three companies - The Wigmore Group, Quiktrak and Advanced Technology - knowing they were in trouble, but tried to offload the shares on to its clients.

Trading in the three companies was subsequently suspended leaving the clients out of pocket, but this did not affect City Equities' profit, claims Mr Harvey, who earned [pounds sterling]80,000 a year. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

City Dealer Claims He Was Sacked for Whistleblowing; CLIENTS WERE SOLD 'RUBBISH' SHARES, TRIBUNAL IS TOLD
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Author Advanced search

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.