U.S. Supreme Court agrees to hear insider trading appeal

January 19, 2016 2:42 PM

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WASHINGTON Jan 19 The U.S. Supreme Court on Tuesday agreed to take up an Illinois businessman's appeal of his insider trading conviction after he made nearly $1.2 million trading on tips about mergers from his brother-in-law, a Citigroup Inc investment banker.

The justices will review a July ruling by the 9th U.S. Circuit Court of Appeals in San Francisco, which upheld the conviction of Bassam Salman. He was sentenced in 2014 to three years in prison after a federal jury in San Francisco found him guilty of conspiracy and securities fraud. (Reporting by L...

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