According to the Bloomberg article:
Gut, 46, was arraigned on a preliminary count of insider trading by investigating judges and released on bail of 400,000 euros ($619,000), said Isabelle Montagne, a spokeswoman for Paris prosecutors. Gut is the second former EADS executive charged in the case.Well, we all know he can afford the bail money.
The article also states that:
The probe is one of two over the timing of disclosures that wiring problems would delay the 525-seat A380s introduction. As many as 17 current and former executives at EADS and its Airbus unit are under investigation in a related Autorite des Marches Financiers civil case....The New York Times has already reported that, the CEO of EADS North America Ralph Crosby, who was the main architect of the KC-30 Air Force tanker contract partnership, has been identified as one of the 17 officials under investigation.
The Paris prosecutors opened the inquiry in 2006, after EADS shareholders filed a lawsuit claiming insider trading and the French market watchdog began a probe into shares sold ahead of announcements that Lagardere and Daimler were each selling 7.5 percent stakes in EADS and about delays in the A380 program at EADS's Airbus SAS unit.
In related news the Wall Street Journal reported that last Friday the EADS insider trading scandal was introduced in American courts:
Two U.S. law firms filed suits Friday in federal court in New York's Southern District, alleging insider trading in shares of EADS and that managers and shareholders misled investors. Both are requesting class-action status. The U.S. cases come on top of continuing investigations by French prosecutors and stock-market regulators into alleged insider trading at the company.The Wall Street Journal article states that although EADS shares are not registered to trade in the U.S.
...attorneys in the two U.S. cases contend that the global aerospace giant conducts enough business in the U.S., and has enough U.S. investors, to merit filing complaints in the U.S.
One suit, filed by New York law firm Dreier LLP on behalf of an individual European shareholder, Danielle Bobin, alleges insider trading by Lagardère and Daimler. Both sold large blocks of EADS shares in April 2006, just weeks before EADS announced major delays in its flagship A380 project. The suit also targets two senior EADS managers who are U.S. citizens.
The other complaint was filed by San Diego law firm Coughlin Stoia Geller Rudman & Robbins LLP on behalf of an unnamed institutional investor and individual investors in the U.S. Its suit targets EADS and some top managers, alleging they misled investors about the state of the A380 program while selling EADS shares, the law firm said in a statement.