Ex-Citi Banker's Relative Seeks SEC Obstruction Retrial

Law360, San Francisco (October 23, 2013, 7:33 PM EDT) -- A man found guilty of obstructing a U.S. Securities and Exchange Commission investigation into his family's insider trading scheme urged a California federal judge Wednesday to order a new trial in his case, arguing the jury was given faulty instructions on how to reach its verdict.

Attorneys for Karim Bayyouk argued Wednesday that the jury's verdict must be thrown out because the court wrongly instructed jurors that they didn't need to reach a unanimous decision regarding which of Bayyouk's statements to the SEC constituted obstruction. Prosecutors...
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