Former tech exec settles insider trading charges

October 28, 2012

(AP)—A former executive at a technology firm in Silicon Valley is settling charges lodged by federal regulators that he provided insider information to convicted Galleon hedge fund manager Raj Rajaratnam.

Dozens of people have been charged in the case, one of the biggest insider-trading probes in history. The hedge fund founder relied on tips from company insiders that officials say helped him make nearly $1 million illegally.

The U.S. said Friday that former Xilinx Inc. chief financial officer Kris Chellam shared confidential information with Rajaratnam in 2006 that indicated the company would fall short of its public revenue projections. That enabled the hedge fund manager to short sell the stock illegally for profit.

Chellam has agreed to pay more than $1.75 million to settle the charges.

Explore further: Report: AMD ex-CEO said linked to Galleon case

0 shares

Related Stories

Report: AMD ex-CEO said linked to Galleon case

October 28, 2009

(AP) -- Chip maker Advanced Micro Devices Inc. is "thoroughly reviewing" published reports fingering former chairman and CEO Hector Ruiz as the AMD executive who gave confidential company information to a defendant in the ...

Yahoo shareholder pushes for its board nominees

March 21, 2012

(AP) -- One of Yahoo's major investors is urging shareholders to vote its four nominees on to the Internet company's board, launching a potentially nasty fight to transform the Internet company's board.

Insider trading case focuses on Apple's secrets

December 16, 2010

(AP) -- Federal prosecutors in Manhattan broadened their insider trading crackdown Thursday, arresting four people on charges alleging that so-called "expert consultants" revealed secrets about Apple Inc.'s iPhone and other ...

Recommended for you

Permanent, wireless self-charging system using NIR band

October 8, 2018

As wearable devices are emerging, there are numerous studies on wireless charging systems. Here, a KAIST research team has developed a permanent, wireless self-charging platform for low-power wearable electronics by converting ...

Facebook launches AI video-calling device 'Portal'

October 8, 2018

Facebook on Monday launched a range of AI-powered video-calling devices, a strategic revolution for the social network giant which is aiming for a slice of the smart speaker market that is currently dominated by Amazon and ...

Artificial enzymes convert solar energy into hydrogen gas

October 4, 2018

In a new scientific article, researchers at Uppsala University describe how, using a completely new method, they have synthesised an artificial enzyme that functions in the metabolism of living cells. These enzymes can utilize ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.