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Ex-Citigroup Banker Charged With Insider Trading

Law360 (April 30, 2009, 12:00 AM EDT) -- Former Citigroup Global Markets Inc. investment banker Maher Kara was hit Thursday with insider trading charges by federal prosecutors, as well as civil claims by the U.S. Securities and Exchange Commission, after he allegedly spent three years tipping off friends and family on the company’s confidential merger deals, generating $6 million in profits.

The U.S. Attorney’s Office for the Northern District of California and the FBI jointly announced Kara's indictment. Kara faces allegations of insider trading in a parallel civil suit launched on the same day...
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