Bloomberg - Ex-UBS compliance officer said lied after arrest

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"I wanted to protect myself," Abdel-Malek told the jury in response to a question about Choucair’s use of burner phones. "I was worried about my job. I think it was a partial lie. Yes it was inconclusive about what I actually knew."

A former UBS compliance officer on trial for insider trading admitted to more "partial lies" under questioning from a prosecutor for the U.K.’s financial regulator.

Bloomberg News reports that John McGuinness, the lead prosecutor for the Financial Conduct Authority, suggested on Wednesday that Fabiana Abdel-Malek lied several times when she was interviewed after her arrest in September 2015. Abdel-Malek, 36, testified Tuesday that she’d lied about using a burner phone to communicate with a day trader, Walid Choucair, because she panicked.

McGuinness said that she not only lied about her use of pay-as-you-go phones, but also about Choucair’s use of the burners. She deceived investigators about what Choucair knew about her job and what she knew about his, the prosecutor said. Abdel-Malek admitted that she didn’t give a full picture, which at times amounted to partial lies.

Hit the link below to access the complete Bloomberg News:

Ex-UBS Official Admits ‘Partial Lies’ About Trader, Burner Phone

Deutsche Bank Said to Lose Money on Risk-Management Trades

 

 

 

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