The former Deutsche Bank executive was handed the longest ever sentence for insider dealing in a case brought by the UK's Financial Conduct Authority.

Martyn Dodgson, a former Deutsche Bank managing director, has been sentenced to four and a half years in prison for insider dealing.

The sentencing at Southwark Crown Court yesterday followed a lengthy FCA investigation, which found that Dodgson and his friend, Andrew Hind, a businessman, property developer and chartered accountant, conspired to insider deal between November 2006 and March 2010. Hind was sentenced to three and a half years' imprisonment.

In sentencing Dodgson and Hind, the trial judge, Judge Jeffrey Pegden QC, said their offending was “persistent, prolonged, deliberate, dishonest behaviour”.

“Insider dealing is ever more detectable and provable. And this case shows lengthy terms of imprisonment, not profits are the real result,” said Mark Steward, director of enforcement and market oversight at the FCA.

During the period to which the charge relates, Dodgson worked at Morgan Stanley as a vice president in the global capital markets division until 2007, and then at Lehman Brothers as an executive director in the European investment banking division from July 2007 to September 2008. He moved to Deutsche in 2008 as a director in the corporate broking department before being promoted to managing director.

Dodgson sourced inside information from within the investment banks at which he worked and passed this on to Hind who then affected secret dealing for the benefit of Dodgson and himself, the FCA said in a statement. The pair went to “elaborate” lengths to prevent the authorities from uncovering their activities, including the use of unregistered mobile phones, encoded and encrypted records and safety deposit boxes.

The regulator said the investigation – dubbed Operation Tabernula – which it conducted in partnership with the National Crime Agency, had been its largest and most complex one for insider dealing yet. The two new convictions bring the total number of those secured in the investigation to five.