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Trader Can Be Extradited In Ex-Goldman Banker Fraud Case
Law360, London (February 18, 2021, 10:03 PM GMT) A securities trader charged by U.S. authorities over an insider trading scheme involving an ex-Goldman Sachs banker lost his extradition fight after a London judge said Thursday it was in the interest of justice for him to be tried in America.
Westminster Magistrates Court Judge Vanessa Baraitser rejected Joseph El-Khouri s bid to hold off extradition to the U.S., where he faces 17 counts of securities and wire fraud.
El-Khouri, a Lebanese-British citizen, has been charged in the U.S. along with five others, including a Goldman Sachs investment banker, in what U.S. prosecutors called a transnational insider trading scheme that netted tens.
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LONDON (Reuters) - Britain’s financial watchdog said it has started fraud and insider dealing proceedings against two brothers, one who worked as a Goldman Sachs analyst, the other as a lawyer at Clifford Chance.
The Financial Conduct Authority (FCA) said the proceedings against Mohammed Zina, 32, and his brother Suhail Zina, 33, relate to six offences of insider dealing and three offences of fraud by false representation, making an alleged profit of 142,000 pounds ($197,834).
“Mohammed Zina was employed by Goldman Sachs International as an analyst in the Conflicts Resolution Group in their London office. Suhail Zina was a solicitor at Clifford Chance, also in London,” the FCA said in a statement on Tuesday.
A prominent Suffolk businessman who faces extradition proceedings to the United States looks set to have to wait until at least May to learn his fate.
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