(Bloomberg) -- Sometimes, visiting mom can land you in trouble.
French financial crime cops surprised a suspect in an insider trading probe at his mother's apartment in a posh Paris neighborhood, where he was staying.
The Autorité des Marchés Financiers targeted him for pocketing nearly 250,000 euros ($290,000) by trading days before an announcement that CVC Capital Partners was in exclusive talks to acquire French insurer April SA. Investigators tied him to the address because he'd made Deliveroo food orders there and carrier Air France had him registered to that address.
The suspect tried to overturn the search but the Paris court of appeals sided with the AMF, which had collected evidence on his MacBook Air and phones.
“That confirms he is indeed the occupant of this apartment,” the judges said of the suspect in the ruling published Tuesday. The Dubai-based individual isn't identified in the regulator's decision.
His lawyer didn't immediately respond to a request for comment. The AMF probe could lead to the suspect facing an enforcement committee hearing and a subsequent fine.
Read more: Insider-Trading Raid at Whisky Maker Leaves Cops With Hangover
©2021 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
