On Dec. 6, SEC charged insider trading ring across three countries.
- Rajeshwar Gannamaneni gave information on impending mergers, acquisitions,
and tenders to his wife, Deepthi Gandra, and father, Linga Rao Gannamaneni.
- Gannamaneni was IT contractor, working at Singapore branch investment bank.
- Traded in account he controlled that was opened in the name of family member.
- The three made $600k trading information, in advance of 40 corporate events.
- Imposed disgorgement of ill-gotten gains, interest, penalties, injunctive relief.
- Court-ordered freezing assets in three brokerage accounts and bank account.