Convicted insider dealer Redinel Korfuzi, 38, a former analyst at asset manager Janus Henderson, earned a “remarkable” pay package of nearly £600,000 in one year, court documents have revealed.

Redinel and his sister Oerta Korfuzi, 36, were jailed for a combined 11 years earlier this month at Southwark Crown Court for insider dealing and money laundering which netted them more than £1m.

Redinel Korfuzi worked as an analyst at Janus Henderson, providing research and advice on long-term investments in stocks and shares for the funds for which he worked.

According to the court case summing up by His Honour Justice Milne KC, Redinel Korfuzi was successful in his role and “thrived” in the atmosphere of high finance and investment. He was spoken of in “admiring” terms by his bosses and given high ratings in reviews.

In his first year with the company the court papers reveal that his remuneration with salary and bonuses was £221,500. This rose in his second year to £539,444 plus a share award of approximately £59,000 - a total package of approximately £598,444.

The judge said Redinel was destined for success and was legitimately earning “remarkable sums of money.” He said the case had elements of a “Greek tragedy” in that an individual was brought crashing down by a fatal flaw.

According to court transcripts, Mr Justice Milne told the brother and sister: “This case has elements of classical Greek tragedy in which an individual of some standing is brought crashing down by a fatal flaw.

“Redinel was exceptionally successful in his employment, was legitimately earning remarkable sums of money and was no doubt destined for bigger and better success in the years ahead. Had he simply held the course planned out for him, his legitimate earnings within a few years would have far exceeded what was made from this criminal behaviour.

“Oerta too had the advantages of an excellent education and the capacity to pursue a valuable and well-remunerated career. All of this is wasted. The education paid for by your parents, and the years of study by both of you, count for little now because of this betrayal of trust and willing criminality.”

A suggestion by the defence that the brother and sister were acting to pay for treatment for their sick father in Albania was rejected by the judge who said: “It was submitted that I should take account of the assertion that much of this activity was intended to assist your parents.

“There is very limited evidence to support this – the simple fact of money going to Albania is indicative of little more than the expatriation of ill-gotten gains. Whilst there may be evidence your father was ill, and that your parents were in financial difficulty, Redinel made more than enough from his Janus Henderson earnings to keep them in a lavish lifestyle compared to their domestic pension, and even when Oerta withdrew cash in Albania following transfers, she appears to have misrepresented that as property investment. Care for your parents in no way justifies or reduces the culpability in this case.”

The judge said Janus Henderson was the victim of a deliberate effort to profit from insider dealing.

He said: “Janus Henderson did nothing wrong but no doubt suffered embarrassment and potential loss of client confidence."

He added: “Both defendants are intelligent and financially aware individuals, and in my assessment, having seen them both give evidence, they knew exactly what they were doing. Neither, of course, has expressed any remorse.”

The court case heard that Mr Korfuzi took advantage of his position as a research analyst at Janus Henderson to share confidential information he had access to that was likely to have an impact on companies’ share prices. He shared the information with his sister Oerta to rig the system and make money.

Mr Korfuzi regularly saw emails from companies gauging investor interest on plans to raise equity in the markets or sell large blocks of shares owned by existing shareholders. Within minutes, Mr Korfuzi traded in the shares of those companies across a number of accounts, including those operated by his sister.

They used contracts for difference (CFDs), taking positions that the value of the relevant shares would go down and closing the positions after the market announcements.

The case centred on 13 stocks, traded between 17 December 2019 and 25 March 2021, which generated a profit of more than £960,000. The FCA detected suspicious patterns of trading and analysed large sets of trading data to uncover the crime. 

The Korfuzis were arrested in March 2021 as part of a search operation, which was carried out alongside the Metropolitan Police.

FCA investigators also uncovered an international money laundering operation. While the source of the cash remains unknown, 173 deposits were made into accounts controlled or operated by the siblings from the UK to Albania.

A Proceeds of Crime hearing will take place in due course, the judge said.