Posted May 04, 2007 01:52 pm CDT
A junior investment banker has been charged with leaking inside information about investment deals before they were announced.
Hafiz Muhammad Zubair Naseem, who works at Credit Suisse in Manhattan, was arrested yesterday, the New York Times reports. Naseem is accused of telling a Pakistani investment banker about the pending deals, who then traded on the information for Naseem and himself.
The newspaper says the case is one of several suspicious-trading cases that stem from a boom in mergers and acquisitions and leveraged buyouts.