“Traitor of honesty”. An unprecedented fine was imposed on Pique

Former Barcelona star and current Andorra club president Gerard Pique is facing a new legal crisis after Spain’s national securities market body fined him €200,000, accusing him of leaking insider information for illegal financial gain.

According to the authority’s ruling, Pique used confidential information he received from Spanish businessman Jose Elias, the company’s CEO and largest shareholder, regarding the company’s plans to acquire Atrys Health. Based on that information, Pique bought 104,166 shares of Aspy before the official announcement of the deal, then sold them after their market value increased, making a profit of about 47,000 euros.

But the operation, which was described as a “very serious crime”, was considered market manipulation under Spanish regulations because the former player used inside information for personal economic gain.

Accordingly, the Authority decided to impose a fine exceeding four times the profit he received from the transaction.

According to investigations, Aspy’s share price rose from €2.3 to €2.8 within days of the takeover deal being announced, allowing Pique to make a quick profit before the operation was revealed.

It is believed that Pique can appeal to the Spanish national court to appeal the decision and try to reduce the fine imposed on him.

The incident is the latest episode in a series of controversies that have dogged Pique since his retirement from football, adding to the list of incidents that have raised questions about his behavior outside the green box and once again putting his reputation under the microscope in Spanish sporting and economic circles.