An investment banking vice president & risk management specialist was criminally charged with insider trading in Neustar Inc since the advertising technology company allowed to be acquired by a private equity firm.
Avaneesh Krishnamoorthy, an Indian citizen living in West New York, New Jersey, made around $48,000 trading Neustar stock & options in a brokerage account held by him & his wife, after discovering that Golden Gate Capital was in talks to buy the company, court papers show.
Shares of Neustar rose 21 percent ending December 14 after Golden Gate’s takeover of the Sterling, Virginia-based company for approximately $2.9 billion counting debt.
Krishnamoorthy’s employer was not named in court papers, but according to LinkedIn, a person sharing his title works as a market risk manager for Nomura Holdings Inc.
In a reported civil complaint, the United States Securities & Exchange Commission told the employer had been registered with the commission as a broker-dealer since 1969 & as an investment adviser since April 2012.
That description suits data for Nomura from the SEC website.
Krishnamoorthy, 41, meets one criminal count of securities fraud, & a maximum twenty years in prison if sentenced.
A federal public defender who resembled with Krishnamoorthy at a hearing in Manhattan declined to comment. The office of Acting United States Attorney Joon Kim in Manhattan also rejected to talk, as did a Nomura spokeswoman.
The criminal insider trading case is the 1st stated by Kim as his predecessor Preet Bharara, who made many such cases, was fired by the United States President Trump on March 11.
The cases are United States v. Krishnamoorthy, United States District Court, Southern District of New York, No. 17-mag-03002; & SEC v. Krishnamoorthy in the same court, No. 17-02953.