One of the former Cazenove partner has been found guilty of insider trading. Cazenove's one of the former head of market, Malcolm Calvert has been found responsible for such a critical charge.

He has generated an ample amount of profit by leaking the crucial information pertaining to the company's future strategies. The case was filed by the Financial Services Authority.

According to sources the prosecution has accused that one of the unnamed insider at the bank, is involved in leaking confidential information on upcoming takeovers on which Calvert has earned a huge profit.

After investigation, it was found that Calvert has invested around £502,143 in the shares by using the insider information. The companies in which he has invested were in the subject of non-public takeover bids. In the total scam, one of his friends Bertie Hatcher was also found guilty. Both of them had earned a gross profit of £103,588 from buying and selling shares of various companies. They have transacted on biotechnology firm Vernalis, engineering company Johnston Group and water supplier South Staffordshire.

However, the entire issue has damaged the reputation of Cazenove which is one the famous Stock broking firm of the nation.