Sandeep Goyal

Sandeep Goyal, a former Indian employee of computer company Dell was charged for insider trading case by the Federal Bureau of Investigation, beginning of this year. He is one among the seven people charged and this ‘criminal club’ is said to have traded in the shares of Dell making an illegal profit of USD 62 million.

Prosecutors said Goyal obtained nonpublic information from Dell insiders in advance to the announcements regarding public earnings, and he shared these details with the other defendants, Tortora and Newman. They in turn paid Goyal an amount of $175,000 using ‘soft dollars’ in the year 2008 and in early 2009. Goyal made use of his old contacts in the office of Dell to access information which is not available in the public domain.

Preet Bharara, Manhattan U.S. Attorney said at a news conference that the charging document told "by now, a sadly familiar story’’. ‘’It describes a circle of friends who essentially formed a criminal club, whose purpose was profit and whose members regularly bartered lucrative inside information," Bharara said.

Sandeep Goyal was an associate analyst for an asset management firm in New York, who earlier worked at Dell’s office in Texas.