Former Credit Suisse investment banker Hafiz Muhammad Zubair Naseem was sentenced on Friday to 10 years in prison by US District Judge Robert Patterson in Manhattan. A jury convicted Naseem in February on one count of conspiracy and 28 counts of insider trading for tipping off a colleague in Pakistan who traded on inside information of upcoming mergers, resulting in a gain of $7.5 million (earlier). The colleague, Ajaz Rahim, is fighting extradition from Pakistan (Bloomberg).
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