Hanif Lalani – Insider Trading, Fraud and Conviction
Hanif Lalani is a British businessman who lost the honorary title of OBE after getting convicted.
He had served as the CFO of the BT Group and had worked at the company for over 2 decades.
In 2012, AMF (Autorité des marchés financiers) fined Hanif Lalani €1.5 million. Also, it fined his family members an additional €4.6 million as they profited from BT’s plan to buy Net2S.
Net2S was a listed Paris company and the deal valued the firm at €68.5 million. BT had acquired 68.6% of the Paris firm in 2007. At the time, Hanif was the Group Finance Director at BT.
Later, the investigations revealed that his relatives purchased shares in Net2S expecting the purchase order from BT.
While Hanif Lalani had received the honorary title of OBE in 2002, he lost it in 2020.
In a notice, the Gazette said that Lalani’s appointment to be an ‘Officer of the Civil Division of the Most Excellent Order of the British Empire [OBE] shall be annulled.
Also, the Gazette notified that Hanif’s name would be erased from the Register of the Order.
Hanif Lalani had received the award for his business services in Northern Ireland where he worked as BT’s Finance Director in 1998 and Chief Executive in 1999.
The Career of Hanif Lalani
Hanif Lalani had joined BT as a graduate trainee in 1983. He became the Managing Director of BT Regions in 2002.
Later that year, he became the CFO for BT Wholesale.
Afterwards, Hanif received the post of Group Finance Director for BT.
His career at BT ended in 2010. Jeff Kelly replaced him.
Then, Hanif joined the Easynet board as a Non-Executive Director.
The UK government appointed him Investment Ambassador for Northern Ireland in 2010.
However, he is no longer at that position.
Currently, he is operating in the Middle East, helping telecom companies function. Still, it’s surprising to see him work in the same industry where he faced a conviction for insider trading..
Insider trading is no small crime. It is simply the abuse of one’s position and power for personal gain.
Seeing his convicted past, it’s obvious that Hanif Lalani is not a reliable executive.
You should be extremely cautious of working with a guy like him.
For example, Krissy Mashinsky is suspected to have indulged in insider trading to increase her profits before her husband’s company filed for bankruptcy.
It would be best for you to avoid dealing with Hanif.
Hanif Lalani was convicted for insider trading. He made millions through the shady business and helped his family members make millions as well.
- Convicted of Fraud
- Tainted professional history
- Earned millions through insider trading