17 January 2018
visit www.ebaday.com

Perot man charged with insider trading returns $8.6 million

06 January 2010  |  9186 views  |  0 cash

A former Perot Systems employee accused of insider trading by the US Securities and Exchange Commission (SEC), has agreed to return $8.6 million in 'illicit profits'.

The US watchdog alleged that Reza Salah illegally traded in Perot Systems call options after learning of an impending merger deal with Dell.

The SEC further obtained a court order freezing all of Saleh's trading profits.

Under the terms of the settlement, filed Tuesday in federal court in Dallas, the SEC plans to ask the court to appoint a third party to recommend a distribution plan for Saleh's $8.6 million haul. The watchdog is also calling on the court to impose a financial penalty on the former Perot man.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

IBM exec among six charged over tech insider trading scheme

IBM exec among six charged over tech insider trading scheme

19 October 2009  |  6926 views  |  0 comments
Wall Street M&A advisors charged over insider trading

Wall Street M&A advisors charged over insider trading

06 February 2009  |  6713 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.ebaday.comvisit www.fivedegrees.nlvisit www.vasco.com

Top topics

Most viewed Most shared
Buffett rubbishes cryptocurrencies; South Korea preps exchange crackdownBuffett rubbishes cryptocurrencies; South...
11279 views comments | 15 tweets | 17 linkedin
BNP Paribas Asset Management completes fund transaction blockchain testBNP Paribas Asset Management completes fun...
9923 views comments | 14 tweets | 33 linkedin
Crypto mining threatened by power capacity concernsCrypto mining threatened by power capacity...
9107 views comments | 17 tweets | 18 linkedin
Exchanges call for global fintech standardsExchanges call for global fintech standard...
8807 views comments | 17 tweets | 13 linkedin
Europe begins Open Banking era in subdued styleEurope begins Open Banking era in subdued...
8806 views comments | 30 tweets | 34 linkedin

Featured job

Competitive
New York, NY - USA (some flexibility on location)

Find your next job