Ex-UBS Compliance Officer Says Burner Phone Gift Was ‘Strange’
- Fabiana Abdel-Malek on trial in London for insider trading
- Abdel-Malek, co-defendant Walid Choucair deny charges
Fabiana Abdel-Malek outside court in London on April 16, 2019.
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
A former UBS Group AG compliance officer charged with insider trading said she was surprised when her daytrading co-defendant asked her to limit their contact to a burner phone that he handed her after nights out in a London night club.
Fabiana Abdel-Malek, 36, is accused of leaking price-sensitive deals information from a UBS deals database to Walid Choucair, allowing him to profit from the information. She called and texted Choucair on burner phones, prosecution for the U.K. Financial Conduct Authority said at the trial, which started last month.