Wednesday, June 20, 2007
Did Hafiz Muhammed Zubair Naseem, a Credit Suisse analyst living in suburban New York, tip his friend, Ajaz Rahim, a self-described "rupee billionaire" made rich by the post Sept. 11 Pakistani bull market, or is the government's case "plainly inferential," as Judge James C. Francis IV recently said? According to the government, on nine occasions Naseem told Rahim about US companies that were soon to announce that they were takeover targets, including, in February, TXU. The New York Times article gives us an insight into the business world in Pakistan. See NYTimes Insider Trading Can Now Touch Many Corners of the World.