Ex-UBS Compliance Officer in Court on $1.8 Million Insider Case
- Fabiana Abdel-Malek, Walid Choucair each charged with 5 counts
- FCA says pair traded shares of Elizabeth Arden, BRE Properties
UBS Group
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A former UBS Group AG compliance officer and a day trader charged by U.K. regulators with insider trading appeared in a London court for the first time to face allegations that they made 1.4 million pounds (1.8 million) illegally trading shares of Elizabeth Arden Inc. and four other companies.
Fabiana Abdel-Malek, 34, and Walid Choucair, 38, were charged by the U.K. Financial Conduct Authority with five counts of insider dealing between June 2013 and June 2014. Prosecutors told a London court Friday that in addition to Elizabeth Arden, the pair traded shares of Kabel Deutschland Holding AG and BRE Properties Inc. based on information Abdel-Malek obtained through her work at UBS.