Prosecutors Say Ex-UBS Officer, Trader Lied About Meetup
Law360, London (June 5, 2019, 9:20 PM BST) -- A former UBS compliance officer and a trader have lied about meeting up on a night the officer purportedly gave the trader insider information despite cellphone tower evidence suggesting they were together, a prosecutor for the Financial Conduct Authority told a London jury Wednesday.
Prosecutor Sarah Clarke of Serjeants' Inn Chambers made the assertion at Southwark Crown Court during her cross-examination of trader Walid Choucair, who the FCA has accused of making £1.4 million ($1.8 million) off of confidential information provided by former UBS AG employee Fabiana Abdel-Malek.
Shortly after the alleged meetup, Choucair began trading on information that Abdel-Malek had accessed from the bank's internal database,...
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