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Former Belgo executive faces insider dealing charges

15 August 2008 by

A former senior executive of restaurant chain Belgo Group is facing an insider dealing trial, it has emerged.

The charges under section 52 of the criminal justice act relate to alleged leaking of price-sensitive information before the sale of Belgo in 1997 by TRM Tisch, where Power worked.

Charges also relate to the alleged 'encouragement' of Euan Carlisle to deal in shares in Lonsdale Holdings, which acquired Belgo for £9.8m in 1997 and Belgo Group Plc.

Power is also accused of passing additional insider information to Carlisle in early 1998 when he was employed by Belgo.

The Londoner, who was involved in the takeovers of several famous restaurants including the Ivy, Le Caprice and Daphne's, denies all four counts of insider dealing.

His trial is set to start in December.

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By Helen Gilbert

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