Our Paul did nothing dishonest, says familyBy Chingford GuardianFRIENDS and family have leapt to the defence of the man at the centre of a £1 million insider-dealing investigation. Paul Marshall, 33, of Beech Hall Road, Highams Park, bought shares in Railtrack, which netted him a paper profit of £1 million over night. But the deal is being investigated by the Financial Services Authority, which suspects insider dealing has occurred. Railtrack shares were of little value until Stephen Byers made a surprise announcement on March 25 that the Government would guarantee shareholders a minimum £2.50 for every share they held. Mr Marshall bought 500,000 Railtrack shares at 85.085p per share just days before the announcement was made. He is then thought to have sold them at £2.10 each, making him a profit of £625,000. It is not known who now owns the shares and stands to claim the remaining 40p profit per share. The story was reported in the Sunday Times last week, by which time Mr Marshall was holidaying at his brother-in-law's mansion on the Costa del Sol. But the Guardian contacted his father at his home in Valley Side Road, Chingford. David Marshall immediately leapt to his son's defence, saying: "He's done nothing wrong to my mind. Other people can think what they like. Nothing that's gone on has been illegal in any way at all. "Paul's a nice lad who likes to go out and have and drink and a laugh. He's worked hard all his life. He got made redundant about a year ago but before that he has always worked. "Paul hasn't fled to Spain. Anyone who says that is talking complete rubbish. He was just having a little holiday there. I haven't heard from him and I don't know anything about this." Mr Marshall has now sold his Highams Park flat but neighbours confirmed that he hasn't left the country. One said: "He's back for his mum's birthday. I don't think Paul's got anything to do with this. He hasn't got a penny, so how could he have purchased all those shares? "Someone else must have given him the cash it would have just been his name on the bits of paper. "I'm not sure he would have even made any money." 09:20 Thursday 23rd May 2002
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