The Wall Street Journal-20080205-Former Credit Suisse Banker Convicted

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Former Credit Suisse Banker Convicted

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A former Credit Suisse Group investment banker was convicted of criminal charges that he improperly tipped off a prominent Pakistani investment banker about pending mergers, including TXU Corp.'s proposed buyout by a private-equity group.

After three days of deliberation in federal court in Manhattan, a jury found Hafiz Muhammad Zubair Naseem, a one-time associate at Credit Suisse Securities USA LLC, guilty of conspiracy and 28 counts of insider trading. Mr. Naseem's conviction came after a mistrial in December.

"We respectfully disagree with the jury's verdict," said Michael Bachner, Mr. Naseem's lawyer. "We believe Mr. Naseem will be vindicated on appeal."

U.S. District Judge Robert Patterson, who is presiding, ordered that Mr. Naseem be remanded to jail. Mr. Naseem, who is facing more than 10 years in prison under federal sentencing guidelines, is expected to be sentenced in April. Mr. Naseem also is facing civil charges brought by the Securities and Exchange Commission.