UK Regulator Secures Insider Dealing Conviction
06/27/2019The U.K. Financial Conduct Authority has secured convictions against two individuals accused of insider dealing. Fabiana Abdel-Malek, a former senior compliance officer at the London office of a major European headquartered bank, and Walid Anis Choucair, her family friend, were both sentenced to three years' imprisonment for insider dealing. Ms. Abdel-Malek passed inside information about five proposed company takeovers to Mr. Choucair over the period of a year. This enabled Mr. Choucair to make a profit of approximately £1.4 million. Confiscation proceedings will also be pursued against both defendants.
View the FCA's statement.
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