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Suspicious Bets on Next Archbishop of Canterbury

Due to a last minute rush of bets on Justin Welby becoming the next Archbishop of Canterbury suspicions have been raised that insider trading may have been taking place within the Church of England.

Suspicions have been raised that insider trading may have been taking place within the Church of England.

A number of bookmakers stop accepting bets on the Bishop of Durham to become the next Archbishop after there was a sudden flurry of bets on the favourite before the media had even reported that a decision was due.

It suggests that members of the Church were taking advantage of information they had, there were even instances of people with no previous history of betting opening accounts to place bets on Bishop Welby.

Labour MP Chris Bryant said that it suggested “pretty shabby” behaviour.

However, a spokesperson for Ladbrokes said that there was no evidence of anything to “ring serious alarm bells.”

On the other hand Grahame Sharpe from William Hill said that there comes a point when “because of the nature of the bet, quite a lot of people have to be aware.

If an appointment is to be made there is a lot of red tape and people to be told, it is just human nature that information will go public.”

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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