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Preet Bharara Brings Down ShopClues' Indian Founder
Washington: Manhattan's Indian American U.S. Attorney Preet Bharara has brought down yet another insider trader with a former Indian internet analyst Sandeep Aggarwal pleading guilty.
Aggarwal, who admitted to providing inside information about a pending deal between Microsoft and Yahoo to a portfolio manager at SAC Capital, would be the 76th person convicted in Bharara's four-year insider trading crackdown.
Other prominent convictions obtained by Bharara, dubbed "Sheriff of Wall Street" by Time magazine, include those of India-born former Goldman Sachs director Rajat Gupta and his Sri Lankan hedge fund billionaire friend Raj Rajaratnam.
The manager, Richard Lee, pleaded guilty to insider trading in July and SAC this week agreed to plead guilty to criminal charges and pay a record $1.2 billion penalty.
Aggarwal, 40, a former analyst for San Francisco-based Caris & Co, who has residences in San Jose, California, and in Gurgaon, in India's Haryana province, was accused of leveraging his tech industry contacts for the alleged misconduct in 2009.
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Source: IANS
