Another Indian arrested for Insider Trading

[greensboro]

We know the SEC is understaffed. We know they’ve lost droves of top leadership. We know morale could improve. But if you’re an investment banker looking to test the SEC’s mettle with some insider trading, you’re going to have to try a little bit harder than the Nomura VP who was charged Monday with three securities violations and one giant insult to the SEC’s intelligence.

The defendant is Avaneesh Krishnamoorthy, a vice president in risk management at Nomura, according to a LinkedIn profile matching the description in the SEC complaint, which doesn’t name the bank. His alleged misdeeds read like an Idiot’s Guide to Insider Trading. In his position as risk manager, Krishnamoorthy was privy, allegedly, to confidential information on pending deals. These included the December 2016 acquisition of the publicly traded NeuStar LLC by private equity firm Golden Gate Capital. Here’s a timeline, drawn entirely from the SEC’s documents:

• Nov. 23, 2016: Nomura circulates a document introducing Golden Gate’s plan to buy NeuStar.
• Nov. 25: A brokerage account – opened in 2015 in Krishnamoorthy’s wife’s name – adds 800 shares of NeuStar at around $25 apiece, as well as nine call options with a strike price of $25, expiring Dec 16.
• Nov. 28: Nomura circulates a memo that confirms Golden Gate will buy NeuStar at $30.50 a share, representing a 22 percent premium.
• The next two weeks: Wife’s account adds a bunch more shares and call options, as does an IRA Krishnamoorthy opened – in his own name – the previous year.
• Dec. 14: NeuStar announces acquisition. Stock shoots up 21 percent. Krishnamurthy subsequently sells a bunch of call options and stock, earning around $48,000.
• April 4: Finra knocks on Nomura’s door.

It really doesn’t get much simpler than that. There’s nothing elaborate or subtle here. No plumber friends getting hot tips. No paper bags stuffed with cash. No posing as one’s mother. Not even any juicy quotes thrown into the criminal complaint to get our dander up. Just a completely by-the-books insider scheme: (1) Learn some insider information; (2) buy some stock and out-of-the-money call options; (3) profits!

Come on, now. We can do better than this.

[karna11]

Matter ento 2 lines looo plzz

[bhaigan]

matter in 2 lines please

[NinduChandurudu]

Just now, karna11 said:

Matter ento 2 lines looo plzz

matter

matter

[Hitman]

20 minutes ago, bhaigan said:

matter in 2 lines please

 

20 minutes ago, bhaigan said:

matter in 2 lines please

1 line lo ne cheputa..idigo "Another Indian arrested for Insider Trading"..

[Quickgun_murugan]

21 minutes ago, karna11 said:

Matter ento 2 lines looo plzz

Indian national arrested

he did insider trading

[TampaChinnodu]

48k kosam asha padi future paadu sesukunnadu.

[tennisluvr]

Kakkurthi na koduku 48k ki intha open ga chesi dorakadu anukunnada. Evadayya eediki MBA icchindi? 

Eedi linkedin profile chooddamantey deleted. Idoka trend ayipoyindi, monna aa wife beater gaadu ippudu veedu linkedin profiles delete cheyatamu. Edo delete chesinantha matranna veedi bhagotham bayata padanattu

[TampaChinnodu]

15 minutes ago, tennisluvr said:

Kakkurthi na koduku 48k ki intha open ga chesi dorakadu anukunnada. Evadayya eediki MBA icchindi? 

Eedi linkedin profile chooddamantey deleted. Idoka trend ayipoyindi, monna aa wife beater gaadu ippudu veedu linkedin profiles delete cheyatamu. Edo delete chesinantha matranna veedi bhagotham bayata padanattu

VP anta. already jeetham full gaa vuntadi. ina kooda intha foolish gaa valla own accounts lo trading cheyyatam ento. 

[NinduChandurudu]

27 minutes ago, TampaChinnodu said:

VP anta. already jeetham full gaa vuntadi. ina kooda intha foolish gaa valla own accounts lo trading cheyyatam ento. 

yes kanisam frnds or relativves accnt kuda kadu

[Batman_fan]

1 hour ago, NinduChandurudu said:

matter

matter

[lazybugger]

lol. Nomura ki leni badha SEC ki enduku?