Pleasanton, Fremont men sentenced to prison over insider trading of tech stocks among friends

Pleasanton, Fremont men sentenced to prison over insider trading of tech stocks among friends

10 months ago
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https://www.siliconvalley.com/2024/01/04/pleasanton-fremont-men-sentenced-to-prison-over-insider-trading-of-tech-stocks-among-friends/

Two Bay Area men are going to prison for an insider-trading scheme among friends who traded illegally on tips from the former information-security chief at San Jose technology firm Lumentum.

Srinivasa Kakkera of Pleasanton, 48-year-old former Adobe head of engineering and artificial intelligence, was sentenced Wednesday to a year and a half in federal prison. Abbas Saeedi of Fremont, owner of a Newark tax preparation business, received a five-month sentence. The pair were among a group of friends who learned valuable, non-public information from former Lumentum chief information security officer Amit Bhardwaj of San Ramon, sentenced earlier to two months in prison for his role in the scheme.

Pleasanton, Fremont men sentenced to prison over insider trading of tech stocks among friends

Thu Jan 4, 10:24pm UTC
https://www.siliconvalley.com/2024/01/04/pleasanton-fremont-men-sentenced-to-prison-over-insider-trading-of-tech-stocks-among-friends/ > Two Bay Area men are going to prison for an insider-trading scheme among friends who traded illegally on tips from the former information-security chief at San Jose technology firm Lumentum. > Srinivasa Kakkera of Pleasanton, 48-year-old former Adobe head of engineering and artificial intelligence, was sentenced Wednesday to a year and a half in federal prison. Abbas Saeedi of Fremont, owner of a Newark tax preparation business, received a five-month sentence. The pair were among a group of friends who learned valuable, non-public information from former Lumentum chief information security officer Amit Bhardwaj of San Ramon, sentenced earlier to two months in prison for his role in the scheme.