Ex-UBS Banker Cops To Possible Insider Trading

Law360, New York (September 23, 2010, 5:47 PM EDT) -- Former UBS AG investment banker Nicos A. Stephanou told a court Thursday that he engaged in several possible instances of insider trading that he failed to report to the government when he agreed to cooperate in a trading ring probe.

Stephanou told a jury in the U.S. District Court for the Southern District of New York during the criminal trial of former Jefferies Paragon Fund portfolio manager Joseph Contorinis that he did not recall whether he used inside information for trading in several companies.

Under cross-examination...
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