Majority Verdict In UBS Insider Trading Case Not Reached By Jury

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    A trial over the UBS insider trading case has failed after a jury was not able to reach a majority verdict. The said case is against a former compliance officer of UBS and her day-trader friend.

    Fabiana Abdel-Malek, the former UBS compliance officer is 36 years old while Walid Anis Choucair, a day-trader and the friend of Andel-Malek is 39 years old. The Financial Times reported that they were accused of making up to £1.4 million through tip-offs.

    Both of them were charged with five counts of insider dealing in 2017. It came after an investigation that was conducted by the National Crime Agency and the Financial Conduct Authority.

    The alleged offences took place between the 3rd of June 2013 and the 19th of June 2014.

    The Financial Conduct Authority validated that no verdict was reached during a hearing that was held at Southwark Crown Court today.

    The offence of insider dealing is punishable by an unlimited fine or a maximum of seven years in prison.