On Dec. 12, 2018, UK FCA stated that it sought re-trial for insider dealing case. Jury was discharged, following failure to reach verdict, in a trial brought by FCA.
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SEC International Insider Trading
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. Alleged Violation Gannamaneni was IT contractor, working at Singapore branch investment bank. Traded in account he controlled that was opened in the name of…
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SEC $1.5mn Insider Trading Fine
On Nov. 13, SEC levied $1.5mn fine to medical firm insider trading. Insider trading charges filed on James Mazzo CEO of Advanced Medical Optics. Alleged Violations Mazzo and Abbott Laboratories were exploring the potential acquisition of AMO. Allegedly tipped friend, former professional baseball player, Douglas DeCinces. On multiple occasions Mazzo gave DeCinces, information about the…
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SEC NFL Player Insider Trading
On Aug. 29, SEC charged NFL player and banker re insider trading. Mychal Kendricks given illegal tips by Damilare Sonoiki, investment bank analyst. The professional football player began to receive illegal tips, after they met at a party. Alleged Violations Sonoiki had access to confidential, nonpublic information, for upcoming mergers. Trading scheme facilitated with coded…
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SEC Hedge Fund Insider Trade
On May 8, SEC issued $9mn hedge fund settlement insider trading. Visium Asset Management was charged, for not supervising portfolio managers. Alleged Violations Ignored red flags of managers engaged in asset mismarking and insider trading. Two managers falsely inflated value of securities held by hedge funds it advised. Fund returns falsely inflated, overstated NAV, paid…
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