Banker arrested in securities fraud case
|
| Posted
:
Fri, 04 May 2007 17:22:00 GMT |
| By
:
Business News Editor |
| Category
:
US (Business) |
| News Alerts by
Email ( click
here ) |
|
|
|
|
|
WASHINGTON, May 4 The FBI has arrested a Credit Suisse investment banker in Washington on securities fraud charges.Hafiz Nazeem, 37, was picked up for allegedly tipping an accomplice in Pakistan to nine transactions the bank was working on. These included Babson & Brown's acquisition of Northwestern Energy and a leveraged buy-out of TXU, the Financial Times said.Nazeem began work as a junior banker on Credit Suisse's global energy team in March, 2006, and allegedly soon began phoning tips to a banker in Pakistan.The accomplice allegedly placed dozens of trades ahead of merger announcements and netted more than $7 million, according to the U.S. attorney's office in New York, which will prosecute the case.The U.S. Securities and Exchange Commission filed parallel civil charges against Nazeem.Copyright 2007 by UPI
|
|
|
|
|
|
Related News
Five more US bank failures bring total for 2009 to 120
New York - Bank failures in the United States have risen to 120 this year as five more regional institutions were added to the list, the US agency that guarantees the safety of bank deposits said. United Commercial Bank in San Francisco with assets o...
US stocks climb slightly despite double-digit jobless rate
New York - US stocks posted mild gains Friday to end the week as investors shrugged off government figures that put the unemployment rate above 10 per cent. The Labour Department said the jobless rate hit 10.2 per cent in the month of October, the hi...
US joblessness hits 10.2 per cent, highest in 26 years - Summary
Washington - The US unemployment rate surged to 10.2 per cent in October, the highest in 26 years as another 190,000 people lost their jobs, the Labour Department reported Friday. The figure comes after a 9.8-per-cent jobless rate in September and wa...
US joblessness jumps to 10.2 per cent, highest since 1983 - Update
Washington - The US unemployment rate surged to 10.2 per cent in October, the highest in 26 years, as another 190,000 people lost their jobs during the month, the US reported Friday. The figure reported by US Labour Department came after the 9.8 per ...
US jobless rate jumps to 10.2 per cent
Washington - The US unemployment rate surged to 10.2 per cent in October as another 190,000 people lost their jobs, according to US Labour Department figures released Friday. The jobless rate stood at 9.8 per cent in September. Unemployment had been ...
Bulls stop James, edge Cavs - Summary
Los Angeles - The King couldn't deliver in the clutch. Luol Deng and Joakim Noah combined to deny LeBron James a potential game-winning drive in the final seconds as and the visiting Chicago Bulls snapped the Cleveland Cavaliers' three-game winning...
Mortgage lender Fannie Mae posts nearly 19-billion-dollar loss
Washington - US mortgage lender Fannie Mae said Thursday that it would seek 15 billion dollars in federal aid, after posting its ninth consecutive quarterly loss. Fannie Mae reported a net loss of 18.9 billion dollars in the third quarter of 2009, co...
|
|
|
|
|
|
|
|
