Ex-Grenfell manager trial begins

Two Morgan Grenfell managers made unauthorised transactions in shares worth more than £270m in a bid...

Two Morgan Grenfell managers made unauthorised transactions in shares worth more than £270m in a bid to boost their bonuses, a court was told last week. Peter Young, 43, and Stewart Armer, 36, unit trust fund managers with the group, then hid the investments in secret companies to avoid suspicion, Kingston Crown Court heard. The pair were helped by Erik Langaker, 38, a director of stockbrokers Fiba, and his colleague Jan Helge Johnsen, who charged 'huge' fees for setting up and running the hidden businesses, the jury was told. Armer, of Battledean Road, Highbury, North London, and Langa...