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IBanker Convicted Of Insider Trading

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A federal jury Monday found a former Credit Suisse Group investment banker guilty of insider trading and conspiracy.

Prosecutors accused the banker, Hafiz Naseem, 37, of taking part in a $7.5 million scheme to leak inside information about pending corporate takeovers by calling a friend in his native Pakistan, who then traded on the unlawful tips.

Mr. Naseem was accused of conspiracy to commit securities fraud and 28 additional counts of insider trading.

Read the whole story at Reuters Via NYT