United States v. Bassam Salman

MEMORANDUM

Defendant-Appellant Bassam Yacoub Salman appeals his conviction, following jury trial, for one count of conspiracy to commit securities fraud in violation of 18 U.S.C. § 371 and four counts of securities fraud in violation of 15 U.S.C. §§ 78j(b) and 78ff, 17 C.F.R. §§ 240 .10b-5, 240.HM-1 and 240.10b5-2,' and 18 U.S.C. § 2 . We have jurisdiction pursuant to 28 U.S.C. § 1291 , and we affirm.

Salman’s convictions arose from an insider-trading scheme involving his extended family. The underlying facts and procedural history are set forth in the opinion filed concurrently with this memorandum disposition. As relevant here, the Government presented evidence at trial that Sal-man caused his brother-in-law, Karim Bayyouk, to trade on material non-public information that Salman received from other members of his family using a brokerage account in which Salman had an undisclosed interest. On May 31, 2007, attorneys from the Securities and Exchange Commission (“SEC”) interviewed Bayyouk, who falsely denied having received information from anyone before making the relevant trades. A recording of that interview (the “Bayyouk Interview”) was played for the jury at Salman’s trial.…