AMSTERDAM, 27/05/06 - Jeroen Schothorst, CEO of fashion house McGregor, was sentenced Friday to pay a fine of 200,000 euros for insider trading. The Public Prosecutor (OM) had demanded 120 hours of community service and a 25,000-euro fine.

McGregor was floated on the bourse six years ago. Three large shareholders, including Schothorst, then formed a company with a package of unsold shares from the bank that underwrote the bourse float. Schothorst traded via this company, Waardevol CV, in shares of his own company. According to the Amsterdam district court, the share price was thereby influenced.

Schothorst had more information than other investors, the judge said. As CEO, "He should have taken upon himself the interests of the investing public." In his dealings, personal gain was not however the main motive, said the judge.

A suspended or actual jail sentence would be appropriate, according to the court. But Schothorst has provided complete disclosure, following an uproar in the media. Additionally, he has suffered substantial damage to his reputation and the punishable actions happened years ago, the ruling stated.

McGregor was recently taken off the bourse by management and venture capitalist Marcel Boekhoorn. The bid valued McGregor at 129 million euros. As well as McGregor, the company's brands include Gaastra, Dimaggio en Elmior. It also makes commissioned promotion and company clothes for clients including car-maker Spyker.