Waked lawyer sanctioned in US in 2008
ABDUL WAKED lawyer David Aufhauser, was banned from practicing law in 2008 in the United States for insider trading and selling securities, knowing in advance how the market would behave.
Waked, who was included in the Clinton List of people linked to money laundering and drug trafficking activities , was sanctioned in 2008 by US authorities for the use of inside information in that country.
Aufhauser, according to US media, was one of seven executives of the UBS bank accused of selling securities of his own company in an auction, having information in advance , which indicated that market conditions were not good
In 2008, The Wall Street Journal revealed that Aufhauser opened an email sent by the head of “risks” of the company, in which he spoke of the poor conditions in the market.
Immediately afterwards, the executive forwarded the mail to his stockbroker to order the sale of a position in securities, estimated at $250,000, reports La Prensa.
In a plea deal Aufhauser, escaped criminal prosecution Before this he was senior advisor in the Legal Office of the United States Department of the Treasury and, agreed to pay the state of New York $6 million related to their compensation package, plus a$500,000 fine.
As part of the sanctions, he was also banned from practicing law and working in the market for two years. After the fact, Aufhauser resigned as a member of the general council of the bank.
La Prensa says it tried to get Aufhauser’s, version he did not respond to an email or answer a phone call.
La Prensa also reported attempts to locate Juan Luis Correa and Ebrahim Asvath, Waked representatives in Panama, but neither answered calls that were made to their respective cells, or voice messages that were left.