4th Defendant Charged In Citigroup Insider Trading Plot

Law360, New York (September 19, 2011, 6:31 PM EDT) -- A federal grand jury has charged a California man accused of conspiring with his brother-in-law, a former Citigroup Global Markets Inc. investment banker, in an insider trading scheme that netted him $1.1 million, according to an indictment unsealed Monday.

Bassam Yacoub Salman is accused of conspiracy and securities fraud for allegedly trading on tips from his brother-in-law, Maher Kara, about Citigroup's confidential merger deals, according to the indictment that was originally filed Sept. 1.

Kara, who served as a director of health care securities in Citigroup's...
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