Ex-Citi Banker's Relative Convicted For Lying To SEC

Law360, New York (September 4, 2013, 6:53 PM EDT) -- The relative of an ex-Citigroup Global Markets Inc. banker was convicted Tuesday by a California jury for lying to U.S. Securities and Exchange Commission officials who investigated the banker for his role in a multimillion-dollar insider trading scheme.

Karim Bayyouk was found guilty of obstructing the SEC's investigation into former Citigroup banker Maher Kara, who has already copped to charges that he gave his family members confidential information about the company's merger deals before they became public.

With the conviction, Bayyouk faces up to 5 years...
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