Former McDermott Will & Emery partner Michael McFall and former Dorsey & Whitney partner Andrew Rimmington, were committed to stand trial for insider dealing in September last year. The charges which were brought by the FSA earlier in 2009 related to the takeover of Neutec Pharma PLC in June 2006 by Swiss drugsmaker Novartis AG.

This week Southwark Crown Court heard allegations that the lawyers were “desperate” to buy shares in the company after receiving inside information about the upcoming takeover from the company’s finance director, Andrew King.

The amount they are accused of netting from this – about £40,000 each.

The downside if they are found guilty: fines, a potential 7 year jail sentence and fat chance of continuing a high flying legal career.

All for the price of a BMW 3-series.

The case continues.