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Ex-UBS Official, Friend Get 3 Years in Insider-Trading Case
A former UBS Group AG compliance officer and her friend were sentenced to three years for insider trading after a London trial that featured accounts of champagne-fueled parties, burner phones and evidence stashed in a Chanel handbag. Ex-UBS employee Fabiana Abdel-Malek, 36, and day trader Walid Choucair, 40, were sentenced Thursday in London, with a judge saying that they must serve at least half the term in prison. The ruling caps an eight-week trial filled with details of lavish nights out in one of the city’s most exclusive nightclubs, and a network of traders who only spoke on burner phones. Abdel-Malek was ... (full story)