A former Barclays director pleaded guilty on July 12 to passing insider-trading tips to his plumber in exchange for a free bathroom remodelling and cash.

Steven McClatchey, 58, pleaded guilty to one count of conspiracy and one count of wire fraud in Manhattan federal court. McClatchey said he passed on information about mergers and acquisitions deals he misappropriated from his former employer and passed them to his friend, Gary Pusey.