Ex-UBS Worker, Day-Trader Convicted Of Insider Dealing

[InfoSec News <alerts () infosecnews org>]

https://www.law360.com/articles/1169751

By Bonnie Eslinger
Law360
June 25, 2019

A jury in London found a former UBS compliance officer and her trader 
friend guilty of insider dealing in a partial verdict on Tuesday, a win 
for the Financial Conduct Authority in its long-running prosecution of the 
pair.

The jury of eight men and four women at Southwark Crown Court reached 
their decision after deliberating for seven days, ultimately finding 
former UBS Group AG employee Fabiana Abdel-Malek and her family friend 
Walid Choucair guilty of three counts of insider dealing by a majority 
verdict of 10-2. 

The jury is still weighing two other charges and is set to resume 
deliberations on Wednesday. 

The FCA alleged that Abdel-Malek provided inside information to Choucair, 
allowing him to make £1.4 million ($1.8 million) by placing bets on the 
tips she passed him.

[...]

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