Piqué fined €200,000 in Spain insider trading case
Gerard Piqué has been fined €200,000 by Spain’s market regulator for insider trading linked to a short-term share trade in Aspy Global Services.
Former Barcelona and Spain defender Gerard Piqué has been fined €200,000 after Spain’s securities regulator found he bought shares while in possession of privileged information.The penalty was published in Spain’s official state bulletin and relates to a trade in Aspy Global Services shares in January 2021.Spanish businessman José Elías was also fined €100,000 for disclosing the privileged information, according to the same notice.The regulator said Piqué bought Aspy Global Services stock on January 22, 2021 after receiving inside information from Elías.The shares were sold six days later, with the regulator concluding the trade generated a profit that should not have been achievable without the confidential detail.The inside information related to a corporate process in which Atrys Health was making an offer to buy Aspy Global Services, according to the official notice.Both Piqué and Elías have the right to appeal the fines at Spain’s National High Court.The case adds regulatory pressure for Piqué as he continues to operate in football as an owner and executive through Kosmos, the group that owns Spanish club FC Andorra.Earlier this month, the Spanish Football Federation issued Piqué a six-match ban and a two-month suspension from official football activity following allegations of misconduct towards match officials after a Segunda División match involving FC Andorra.Piqué retired from playing in 2022 after a 22-year career that included 667 club appearances and 102 caps for Spain.He won nine La Liga titles and four UEFA Champions League trophies with Barcelona, plus the 2010 World Cup and UEFA EURO 2012 with Spain.