Day Trader in UBS Insider-Trading Trial Says He Had Many Sources

A day trader charged with insider trading shared information with a wide network of wealthy colleagues and financial journalists, not just the former UBS Group AG compliance officer he’s on trial with, his lawyer said.

Walid Choucair was in constant communication with a number of traders, including multimillionaire Alshair Fiyaz, to make successful bets, the lawyer, Richard Wormald, told a London jury Wednesday. He pointed to a list of phone calls Choucair made before and after trades from a burner phone.