SEC Drops Insider Trading Case V. Jailed Broker

Law360, New York (January 13, 2009, 12:00 AM EST) -- A former Credit Suisse broker who was sentenced last year to a decade behind bars for insider trading has reached a settlement to dismiss civil charges brought by the U.S. Securities and Exchange Commission.

Seeking an unopposed final judgment order from the U.S. District Court for the Northern District of Illinois on Monday, the SEC said it had reached an agreement with Hafiz Muhammed Zubair Naseem to dismiss the case and waive its claim for a monetary penalty in light of his related criminal conviction....
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