Published by Global Banking & Finance Review®
Posted on February 12, 2025
1 min readLast updated: January 26, 2026
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UK Supreme Court rules against extradition of Joseph El-Khouri, accused of insider trading, to the US, citing jurisdictional issues.
LONDON (Reuters) - A British-Lebanese securities trader wanted in the United States for alleged insider dealing on Wednesday won his fight against extradition at the United Kingdom's Supreme Court.
Joseph El-Khouri was charged in New York in 2019 alongside five others, accused of being part of an insider trading ring. He faced 17 charges, including securities and wire fraud.
U.S. prosecutors allege El-Khouri made substantial payments to a middleman – including chartering a yacht in Greece and renting a ski chalet in France – for confidential inside information, making profits of around $2 million.
El-Khouri challenged his proposed extradition to the U.S. and the Supreme Court upheld his appeal on Wednesday, ruling that almost all the alleged criminality took place in Britain.
"No part of the conduct alleged to constitute insider dealing can sensibly be considered to have occurred in the United States," the court said in its written ruling.
(Reporting by Sam Tobin; editing by Sarah Young)
The main topic is the UK Supreme Court's decision to block the extradition of trader Joseph El-Khouri to the US on insider trading charges.
He was facing extradition due to charges of insider trading and securities fraud in the US.
The UK Supreme Court ruled that the alleged criminal activities occurred in the UK, not the US, blocking the extradition.
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