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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.
The offences are:
Providing a service to others that enabled them to obtain, read, listen to or look at a publication, and he intended an effect of his conduct to be a direct or indirect encouragement or other inducement to the commission, preparation or instigation of acts of terrorism contrary to section 2 of the Terrorism Act 2006.
Inviting others to provide funds intending, or having reasonable cause to suspect, that it would be use for the purposes of terrorism contrary to section 15 of the Terrorism Act 2000.
Possession of information likely to be useful to a terrorist contrary to section 58 of the Terrorism Act 2000.
British tech billionaire Michael Lynch on Tuesday began his fight against extradition to the United States to face charges over the sale of the software company he co-founded, in a test of an extradition treaty critics say is lopsided.