Calif. analyst pleads guilty in NY insider case

Headline Legal News Posted on

A California financial analyst has pleaded guilty in New York, admitting he provided insider tips to an SAC Capital portfolio manager.

Sandeep Aggarwal admitted Friday that he provided the tips to the SAC employee and others about a blockbuster deal between Microsoft Corp. and Yahoo Inc. Investigators say the information pertained to a secret, pending search engine advertising partnership between the companies.

Aggarwal has pleaded guilty to conspiracy to commit securities fraud and securities fraud in Manhattan in a cooperation deal. The 40-year-old was arrested in July in San Jose, Calif.

Authorities say they had wiretap evidence from 2009.

Aggarwal told a magistrate judge he provided the tips to boost his standing as an analyst. He says he is "extremely sorry."

Legal News Media

Legal News is the top headline legal news provider for lawyers and legalprofessionals. Read law articles and breaking news from law firm's across the United States to get the latest updates. We reserve the right, at our discretion, to change, modify, add, or remove portions of the site at any time. Your This site is solely for your personal use. You are, of course, welcome to print or otherwise copy material from this site for your personal use. However, you may not distribute, exchange, modify, sell or transmit anything you copy from this Site, including but not limited to any text, images, audio and video, for any business, commercial or public purpose. Any unauthorized use of the text, images, audio and video may violate copyright laws, trademark laws, the laws of privacy and publicity and civil and criminal statutes.

 

American Bar Association – Start and Run a Law Firm

NewYorkStateBar.com – Starting a Law Firm

CPA Website Designs