Ex-UBS Official, Friend Guilty of Fourth Insider Trading Counts

(Bloomberg) -- A former UBS Group AG compliance officer and her friend were each convicted of an additional insider trading count, a day after the London jury found them guilty of three other charges.

The panel is still deliberating a final count against both ex-UBS employee Fabiana Abdel-Malek, 36, and day trader Walid Choucair, 40, in the case, which involves charges from between June 2013 and June 2014.

The Financial Conduct Authority, which brought the case, accused Abdel-Malek of passing tips to Choucair. It said that Choucair used the knowledge to buy contracts-for-difference that allowed him to make 1.4 million pounds ($1.8 million). Both pleaded not guilty before the trial.

To contact the reporter on this story: Franz Wild in London at fwild@bloomberg.net

To contact the editors responsible for this story: Christopher Elser at celser@bloomberg.net;Anthony Aarons at aaarons@bloomberg.net

©2019 Bloomberg L.P.