Learning English - Words in the News
30 May, 2008 - Published 12:15 GMT
France investigates former co-head of Airbus owner
Judges in France have issued preliminary charges against Noel Forgeard, the former chief executive of Europe's largest aerospace group, EADS, which is also the parent company of Airbus, on allegations of insider trading. This report from Mark Lowen:
While at the helm of EADS, Noel Forgeard is alleged to have sold shares in the group totalling over $6.5m. A few months later, in June 2006, Airbus, whose parent company is EADS, announced that its much-heralded A380 superjumbo faced serious production delays.
Concerns were soon raised at the French financial watchdog, the AMF, which claimed massive insider trading.
After almost 36 hours of questioning, Mr Forgeard has been issued with preliminary charges. They don't necessarily lead to a trial, but are only handed down if there are firm grounds to believe a suspect's involvement in a crime.
Mark Lowen, BBC
at the helm of
massive insider trading
necessarily lead to
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