NEW YORK, July 4: A US Federal grand jury on Tuesday indicted two Pakistanis, one a Credite Suisse official and the other a financier on charges of conspiring to make illegal insider trading related to acquisitions on which the bank advised.

The indictment, filed in the Federal District Court in Manhattan, names as defendants Hafiz Mohammad Zubair Naseem, who worked at the New York office of Credit Suisse Bank, which is based in Zurich, and Aijaz Rahim, former head of investment banking at Faysal Bank in Karachi.

They must appear in court to enter a formal plea to the charges.

The American authorities in New York would not comment on the course of action.

Mr Naseem lives in New York and Mr Rahim is in Pakistan.