Bloomberg – UBS AG investment banker Nicos Stephanou, facing more than 10 years in prison for insider trading, made a quick decision following his arrest two years ago: He decided to become a government informant.
For months, Stephanou secretly recorded telephone calls with four friends about pending deals and told investigators all he knew about their insider trading. After his testimony at a trial put one of them behind bars for six years, prosecutors helped him stay out of prison for his own crimes.
