(BFM Stock Exchange) – The gendarme of the Stock Exchange required fines of a total of 1.4 million euros against three people, including the former manager and founder of the Biotechnology company which was liquidated Since.

The Autorité des Marchés Financiers (AMF) requested Thursday, February 13, a sanction of a total of 1.4 million euros against several accused in a case of failure of initiates alleged around French Biotech Lysogene, liquidated Since.

The representative of the college of the AMF asked during a session of the sanctions commission 150,000 euros fine against the former manager of the company, 400,000 euros against her ex-husband, 750,000 euros against a friend of this- CI and 100,000 euros against the latter’s company.

In detail, the manager of the company, Karen Aiach, is suspected of having transmitted privileged information on February 10, 2021 to her ex-husband, Gad Aiach, with whom she had co-founded the company.

The AMF accuses him of having warned Gad Aiach that the American drug regulator (FDA) would approve the launch of clinical studies for a drug developed by the company and dedicated to the treatment of gangliosidosis in GM1, a serious pediatric disease and potentially fatal. This information, made public on February 12, made the title on the stock market jump.

According to the college, Gad Aiach would have, between these two dates, acquired for 70,000 actions from Lysogene, and then resell them on February 15, which would have allowed him to achieve a capital gain of around 36,000 euros.

“Atypical transactions”

“These transactions were atypical compared to the investment habits of Gad Aiach, which has been in a selling position of these actions since 2018,” said the rapporteur.

The AMF criticizes Gad Aiach for having deleted part of his exchanges on WhatsApp with his ex-wife during this period, and for having used “timely” moments of the conversation the “signal signal application application “, which automatically erases messages.

“We discussed very private subjects between two adults,” he said, believing that the expression “position” mentioned by the AMF report, could have “several senses”.

Gad Aiach would also have warned his partner at the time and two of his friends. One of them also bought for several hundred thousand euros in Lysogenic shares, via his company Mikostart, whose original activity was to organize tourist stays.

He would have thus achieved a capital gain of 248,000 euros. “I have invested four times during this period in the company, and I lost three times, this operation is the only winner,” he justified before the committee.

(With AFP)