The SEC’s complaint, filed in the Northern District of California, charges each of the defendants with violating antifraud provisions of the Securities Exchange Act.
Seven Indian-origin persons have been charged by federal authorities with insider trading in a scheme through which they made over a million dollars in illegal profits. Hari Prasad Sure, 34, Lokesh Lagudu, 31 and Chotu Prabhu Tej Pulagam, 29, are friends and worked as software engineers at Twilio, a San Francisco-based cloud computing communications company, the Securities and Exchange Commission said Monday.
The complaint said Sure tipped his close friend Dileep Kumar Reddy Kamujula, 35, who successfully traded in Twilio’s options. Lagudu similarly tipped his girlfriend Sai Nekkalapudi, 30 with whom he lived, and he also tipped his former roommate and close friend Abhishek Dharmapurikar, 33. Pulagam tipped his brother Chetan Prabhu Pulagam, 31. ..Read More
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