The insider trading trial of former Mizuho International Plc investment banker Thomas Ammann and his ex-girlfriends is still going on in the UK, and one of his ex's took the stand today, according to Bloomberg.
In case you haven't been following this case, Ammann plead guilty to using his two girlfriends, Jessica Mang and Christina Weckwerth, to trade on inside information about Canon (he was working on a deal involving the camera maker and OCE NV).
The women invested their own money and then gave him 50% of what they made on the trade, according to the prosecution.
Mang, a chiropractor, made over $103,000 from the trade, but the money wasn't her main motivation. At least, that's what she explained when she took the stand today.
“He basically said that I show him that I trust him -- I invest the money, he still hadn’t specified how -- once that’s done, we’ll go on holiday in the Seychelles,” Mang said. “I thought that was a massive leap in commitment.”
She said Ammann told her if she didn’t do it, “he didn’t want to be with me anymore.”
She also said she thought "due diligence" was a cute nickname Ammann had for her, and that she didn't know what it was. Mang also said that he wanted her to invest so they could build a future together.
Ladies, you've been warned.
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