UBS Worker, Traders Sentenced In UK Insider Trading Case

Law360, New York (July 27, 2012, 9:17 PM EDT) -- A former UBS AG employee and five stock traders convicted this week in the U.K. for allegedly making £732,000 ($1.1 million) in an insider trading scheme were sentenced to jail time Friday, ending the longest and most complex prosecution ever brought by the Financial Services Authority, Britain's financial regulator.

Former UBS employee Ali Mustafa and stock traders Pardip Saini and Paresh Share were each sentenced to three years and six months, while traders Bijal Shah and Truptesh Patel were sentenced to two years. Another trader involved...
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