Broker Charged With TXU Insider Trading

Law360, New York (May 4, 2007, 12:00 AM EDT) -- A former Credit Suisse Group broker who allegedly leaked confidential information about the $32 billion sale of energy company TXU has been arrested and charged with divulging the details of nine mergers.

Federal prosecutors on Thursday filed criminal charges against Hafiz Muhammad Zubair Naseem, a former broker in Credit Suisse’s energy group. The indictment alleges that Naseem called a banker in Pakistan and revealed the details of nine buyouts, offering the information before it was made public.

The banker, who has not yet been identified by...
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