Spain fines Gerard Piqué €200,000 for insider trading

Spain’s National Securities Market Commission fined former Barcelona defender Gerard Piqué €200,000 for insider trading after a January 2021 purchase of Aspy Global Services shares. Piqué bought 104,166 shares on January 20, 2021 and sold them on January 27, 2021, recording an estimated €50,000 profit.

The CNMV concluded Piqué acted after receiving a tip from businessman Francisco José Elías Navarro, who was then a major Aspy shareholder. Atrys Health announced a €223 million tender offer for Aspy on January 26, 2021, which pushed Aspy’s share price up by about 20%. Elías received a separate €100,000 fine for unlawful disclosure.

The CNMV described the trade as a “very serious” market abuse offense and noted Piqué was sidelined with injury at Barcelona when he placed the order. Both men retain the right to appeal the sanctions to Spain’s National High Court.

Regulators and prosecutors have pursued similar cases involving sports figures and other high-profile individuals. In 2016, golfer Phil Mickelson repaid roughly $931,000 after trading Dean Foods shares on information from a bettor. In 2024, former Tottenham owner Joe Lewis pleaded guilty to insider trading charges. Authorities have also pursued cases related to cryptocurrencies and fraud, including a Thai securities fine involving a crypto exchange executive, charges in a U.K. seed-phrase fraud probe, and lawsuits connected to the collapse of FTX that named several athletes.

If the fines are not accepted, the CNMV ruling will proceed to the appeals process at the National High Court.