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
