The Daily Caveat is written by Michael Thomas, a recovering corporate investigator in the Washington, DC-area. [More]
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2/04/2008
Credit Suisse Banker Convicted on Insider Trading
TXU Insider Trading Hunt Goes World-wide
Credit Suisse Insider Trading Scandal Has Ties to Texas
Credit Suisse Banker Convicted on Insider Trading
Hafiz Naseem, a former Credit Suisse investment banker, has been found guilty 28 counts of insider trading in relation to the TXU takeover. Naseem was taken into immediate custody as a potential flight risk. And while his lawyer is talking appeal, Naseem's conviction is worth a few decades in prison, pending sentencing.
The whole TXU debacle is quite the interesting case. I encourage you to check out the tags below for the background.
-- MDT
6/20/2007
The whole TXU debacle is quite the interesting case. I encourage you to check out the tags below for the background.
-- MDT
Labels: Ajaz Rahim, Conviction, Credit Suisse, Hafiz Naseem, insider trading, TXU Corp
TXU Insider Trading Hunt Goes World-wide
The International Herald Tribune provides a great background piece on Ajaz Rahim. Rahim, the former head of investment banking for Faysal Bank Ltd. in Pakistan, is one of the individuals at the center of the TXU insider trading investigation.
While he has currently exited the U.S. for his home country of Pakistan (Rahim's lawyer is not revealing the exact location), Rahim is facing prosecution on 26 counts for suspect trades that took place in advance of the leveraged buyout of TXU Corp., a Texas-based utility company.
Rahim purportedly received his tips from Credit Suisse banker, Hafiz Naseem, also profiled in the IHT article, who has already been arrested in connection with the case.
-- MDT
5/31/2007
While he has currently exited the U.S. for his home country of Pakistan (Rahim's lawyer is not revealing the exact location), Rahim is facing prosecution on 26 counts for suspect trades that took place in advance of the leveraged buyout of TXU Corp., a Texas-based utility company.
Rahim purportedly received his tips from Credit Suisse banker, Hafiz Naseem, also profiled in the IHT article, who has already been arrested in connection with the case.
-- MDT
Labels: Ajaz Rahim, Credit Suisse, Hafiz Naseem, insider trading, TXU Corp
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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