Shopclues CEO arrested by FBI for Yahoo, Microsoft insider trading
A securities analyst accused of leaking secret information in 2009 about a potential partnership between Yahoo and Microsoft to an SAC Capital Advisors hedge fund manager and other traders was arrested and charged in California, prosecutors said on Tuesday. This was reported by Reuters.
Sandeep Aggarwal, who worked as an analyst covering technology stocks before moving to India to start his own internet company Shopclues.com, was arrested on Monday by FBI agents in San Jose while visiting the United States. He made his initial appearance in San Francisco federal court on Tuesday, charged with conspiracy to commit securities fraud and wire fraud related to insider trading.
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