Union Investment Trader on Leave Amid Insider-Trading Probe (1)

Union Investment Privatfonds GmbH said it put one of its employees on leave after regulators raided the Frankfurt-based company for evidence of insider-trading.

The unidentified person is suspected of making a “significant amount” by trading securities on private accounts, Union Investment said in a statement Thursday.

“Because of the seriousness of the allegations, this procedure is advisable, even if the presumption of innocence applies,” it said.

Union Investment said it had provided Frankfurt prosecutors with information such as documents and data. The company, which had 368.2 billion euros ($435 billion) under management at the end of last year, said that ...