UK Trader Told to Pay $7.7 Million in US Insider Trading Case

A London trader who successfully fought extradition to the US on insider trading charges, was ordered to pay $7.7 million in a civil case by the US Securities and Exchange Commission.

Joseph El-Khouri was charged in 2019 in New York along with five other people, including former Goldman Sachs Group Inc. investment banker Bryan Cohen, in what prosecutors said was a larger international insider trading ring.

A judge in Manhattan federal court on Wednesday issued a so-called default judgment against El-Khouri in a related SEC case because the trader never responded to the regulator’s allegations. It is not clear ...