Ex-Citigroup Banker Charged With Insider Trading

Law360, New York (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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.