A former executive for Nomura Holdings has pleaded guilty to insider trading charges.
Avaneesh Krishnamoorthy, 42, admitted to engaging in insider trading in shares of advertising technology company Neustar Inc before it announced its acquisition by a private equity firm. Krishnamoorthy made about $48,000 in profits from the illegal trading.
According to the plea agreement, Krishnamoorthy agreed not to appeal any prison sentence of 16 months or less. He was also hit with a civil lawsuit by the U.S. Securities and Exchange Commission, which is still pending.
Read more here: reuters.com
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