Quantcast
Published On: Thu, Nov 8th, 2018

Additional Defendant, Hamed Ettu Charged for Insider Trading Scheme

United States Attorney William M. McSwain announced that Hamed Ettu, 44, of Richmond, TX was charged today by information with conspiracy to commit securities fraud.

According to the information, Damilare Sonoiki, charged elsewhere, then a junior analyst at a global investment bank in New York, provided material non-public information to Ettu. Sonoiki obtained this information in violation of his duty of confidentiality that he owed to the investment bank.

Photo/Clker-free-vector-images

Relying on the material non-public information he received from Sonoiki, Ettu purchased call options in the target companies, Compuware and Move, between July and September, 2014.  When the proposed merger was announced in each case, the value of Ettu’s options increased significantly.  During the period of the conspiracy, Ettu made a profit of more than $93,000.

If convicted, the defendant faces a maximum possible sentence of five years’ imprisonment, a three year period of supervised release, $250,000 fine, and a $100 special assessment. Forfeiture of all proceeds from the offense also may be ordered.

The case was investigated by the Federal Bureau of Investigation and the Securities and Exchange Commission, and is being prosecuted by Assistant United States Attorney David J. Ignall.

An indictment, information, or criminal complaint is an accusation. A defendant is presumed innocent unless and until proven guilty.

On the DISPATCH: Headlines  Local  Opinion

Subscribe to Weekly Newsletter

* indicates required
/ ( mm / dd ) [ALL INFO CONFIDENTIAL]

About the Author

- The generic Dispatch designation, used primarily for press releases or syndicated content, but may be used for guest author requesting a generic nomenclature

Tags

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Sign up for our Weekly Newsletter



Recent Posts

Chat and Meet apps for mobile

November 30, 2022, Comments Off on Chat and Meet apps for mobile

Addressing the Bias in the Grant Awards System

November 30, 2022, Comments Off on Addressing the Bias in the Grant Awards System
lab test research laboratory

Can Biological Research Be Conducted Successfully Online?

November 23, 2022, Comments Off on Can Biological Research Be Conducted Successfully Online?

What are the best ideas for Catholic gifts on your Christmas?

November 23, 2022, Comments Off on What are the best ideas for Catholic gifts on your Christmas?

Virtual Career Opportunities in the US Job Market for Internationals

November 16, 2022, Comments Off on Virtual Career Opportunities in the US Job Market for Internationals

Getting The Best Online Deals For A Car, Truck, Or SUV

November 14, 2022, Comments Off on Getting The Best Online Deals For A Car, Truck, Or SUV

Is Secularism or Cohabitation Affecting the Success of Your Marriage?

November 14, 2022, Comments Off on Is Secularism or Cohabitation Affecting the Success of Your Marriage?

How to Make Your Mobile Phone More Secure

November 14, 2022, Comments Off on How to Make Your Mobile Phone More Secure

Categories

Archives