Several Indian-origin people charged for insider trading in US

The SEC claims that these residents of California, engaged in illegal trading ahead of two announcements by Lumentum regarding corporate acquisitions and made over US$ 52 lakh in gains.

Several Indian-origin people charged for insider trading in US
Photo by Matt Popovich / Unsplash

In two different alleged schemes, several people of Indian descent have been accused of making over US$ 50 lakh in illegal profits, and they have been charged in the US with insider trading.

The Securities and Exchange Commission (SEC) announced charges against Amit Bhardwaj, 49, a former chief information security officer for Lumentum Holdings, as well as his friends Dhirenkumar Patel, 50, Srinivasa Kakkera, 47, Abbas Saeedi, 47, and Ramesh Chitor, 45.