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...

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