The International Herald Tribune provides a great background piece on Ajaz Rahim. Rahim, the former head of investment banking for Faysal Bank Ltd. in Pakistan, is one of the individuals at the center of the TXU insider trading investigation.

While he has currently exited the U.S. for his home country of Pakistan (Rahim's lawyer is not revealing the exact location), Rahim is facing prosecution on 26 counts for suspect trades that took place in advance of the leveraged buyout of TXU Corp., a Texas-based utility company.

Rahim purportedly received his tips from Credit Suisse banker, Hafiz Naseem, also profiled in the IHT article, who has already been arrested in connection with the case.

-- MDT

Labels: Ajaz Rahim, Credit Suisse, Hafiz Naseem, insider trading, TXU Corp