UBS Worker Fed Inside Info To Day Trader Friend, Jury Told
Law360, London (April 16, 2019, 11:47 PM BST) -- A former UBS compliance officer shared inside information with a friend who traded shares in companies involved in five potential takeover deals that the Swiss investment bank was working on between 2013 and 2014, prosecutors in London said Tuesday.
Fabiana Abdel-Malek, who worked in UBS Group AG’s London office, allegedly fed insider information to day trader Walid Choucair on proposed takeover deals using disposable burner phones, which helped him to make more than £1 million ($1.3 million) in profit on his trades, Financial Conduct Authority prosecutors told a jury at Southwark Crown Court.
John McGuinness, the attorney representing the FCA, told the...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!