Ex-JPMor­gan an­a­lyst is charged with in­sider trad­ing net­ting him US$600K

The China Post - - WORLD BUSINESS -

A for­mer JPMor­gan Chase an­a­lyst and two friends were ar­rested in Cal­i­for­nia on Tues­day on charges they made more than US$600,000 on in­sider trad­ing deals, the Jus­tice Depart­ment said.

Ac­cord­ing to the in­dict­ment, Ashish Ag­gar­wal worked as an an­a­lyst for the U.S. bank in San Fran­cisco from 2011 to 2013, gave tips on a pair of im­pend­ing tech­nol­ogy in­dus­try ac­qui­si­tions to the friends.

Ag­gar­wal is said to have dis­closed to col­lege friend Shahri­yar Bolan­dian de­tails of ac­qui­si­tions by In­te­grated De­vice Tech­nol­ogy of PLX Tech­nol­ogy and Sales­force.com’s pur­chase of Ex­ac­tTar­get.

Bolan­dian shared the in­for­ma­tion with another friend, Ke­van Sadigh, and both men traded se­cu­ri­ties and op­tions re­lated to the com­pa­nies ahead of the deals.

To cover up the al­leged crime, the three sent emails to each other “that con­tained false state­ments sug­gest­ing that their trades were based

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