The Daily Caveat is written by Michael Thomas, a recovering corporate investigator in the Washington, DC-area. [More]
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5/31/2007
Credit Suisse Insider Trading Scandal Has Ties to Texas
Credit Suisse Insider Trading Scandal Has Ties to Texas
AtLargely has the run down on one Ajaz Rahim, former head of investment banking for Faysal Bank Ltd. in Karachi, Pakistan. Rahim is one of several individuals facing prosecution on insider trading charges coming out of the leveraged buyout of TXU Corp., a Texas-based utility company.
Five cases and counting have been filed due to suspect trades that toop place ahead of the TXU buyout. The profitable, if illegal, tips seem to have come from Credit Suisse Group banker, Hafiz Naseem, who as you can imagine is in his own hot water at this point - he was arrested in New York in early May and charged with 25 counts of securities fraud and one count of conspiracy.
-- MDT
Five cases and counting have been filed due to suspect trades that toop place ahead of the TXU buyout. The profitable, if illegal, tips seem to have come from Credit Suisse Group banker, Hafiz Naseem, who as you can imagine is in his own hot water at this point - he was arrested in New York in early May and charged with 25 counts of securities fraud and one count of conspiracy.
-- MDT
Labels: Ajaz Rahim, Credit Suisse, Hafiz Naseem, insider trading, TXU Corp
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