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Ex-UBS Compliance Officer, Friend Guilty of Insider Trading

  • London jury gives partial verdict on pair accused by FCA
  • Fabiana Abdel-Malek and Walid Choucair pleaded not guilty
Walid Choucair and Fabiana Abdel-Malek
Walid Choucair and Fabiana Abdel-Malek

Source: Bloomberg

A former UBS Group AG compliance officer and her friend were convicted of insider trading following a trial in which prosecutors alleged that the bank employee leaked confidential information that allowed the trader to make more than 1 million pounds ($1.3 million).

The jury in London found ex-UBS employee Fabiana Abdel-Malek, 36, and day trader Walid Choucair, 40, guilty of three counts of insider trading between June 2013 and June 2014. The panel is still deliberating two additional sets of counts.