Criminal Club Charged With $62M Insider Trading Of Dell Stock

X

Seven men have been charged for forming a “criminal club” of co-workers and friends to reap $62 million from the insider trading of Dell Inc shares.

Sandeep Goyal was a former Dell employee in 2006 that retained connections with his work friends and colleagues. Nothing fishy there.

But in 2008, while working at a mutual fund company, Goyal received illegal tip-offs concerning Dell’s financial results, according to allegations made by Federal US authorities.

Goyal used the information like currency, sharing it with his “criminal club” of friends and co-workers. The leaks stemmed from Dell’s headquarters in Texas and bounced around the country, ultimately reaching a fund manager at a small Californian trust company and three hedge fund companies in New York and Connecticut.

Federal prosecutors charged Goyal and his six other “circle of friends” on Wednesday, after earning $62 million in illegal gains in Dell Inc stock.

Hedge fund Level Global Investors made $53 million of those profits alone, according to the NYT.

The government’s complaint did not name the Dell executive. A Dell spokesperson said if the accusations were true, their actions were in clear violation of the company’s policies.

BEL2535 BPB024 4SQ Banners 728x90 Criminal Club Charged With $62M Insider Trading Of Dell Stock
HAIER Series 600 FLW HPD Pairs 728x90 1 Criminal Club Charged With $62M Insider Trading Of Dell Stock
728X90 1 Criminal Club Charged With $62M Insider Trading Of Dell Stock
Px7 S3 728x90 1 Criminal Club Charged With $62M Insider Trading Of Dell Stock
ChannelNews AZ100 728x90 Criminal Club Charged With $62M Insider Trading Of Dell Stock
Arlo EOFY25 728x90 Criminal Club Charged With $62M Insider Trading Of Dell Stock
Skullcandy 728x90 1 Criminal Club Charged With $62M Insider Trading Of Dell Stock
AU X8 Banner 728x90 Criminal Club Charged With $62M Insider Trading Of Dell Stock
Hisense KV BannerAd 728 90 Criminal Club Charged With $62M Insider Trading Of Dell Stock
Flick of a switch 728x90 1 Criminal Club Charged With $62M Insider Trading Of Dell Stock
728x90 Criminal Club Charged With $62M Insider Trading Of Dell Stock
Uniden Channelnews SoloX July 2024 728x90 1 Criminal Club Charged With $62M Insider Trading Of Dell Stock
BlueAnt 4SQM PumpAirUltra 728x90px Criminal Club Charged With $62M Insider Trading Of Dell Stock
241211 SAV Ruark CNewsJan Leader Criminal Club Charged With $62M Insider Trading Of Dell Stock
JBL TourPro3 728x90 Criminal Club Charged With $62M Insider Trading Of Dell Stock
Westan 728x90px Criminal Club Charged With $62M Insider Trading Of Dell Stock
GOTHAM 728px x 90px Criminal Club Charged With $62M Insider Trading Of Dell Stock
728 x 90 Criminal Club Charged With $62M Insider Trading Of Dell Stock
728x90 Criminal Club Charged With $62M Insider Trading Of Dell Stock
hitachi banner 728x90 Criminal Club Charged With $62M Insider Trading Of Dell Stock
728x90 Criminal Club Charged With $62M Insider Trading Of Dell Stock
MaxRanger4K Leaderboard 728x90 Criminal Club Charged With $62M Insider Trading Of Dell Stock
ELX DIG Crosscat Promo 728x90 Mar25 Criminal Club Charged With $62M Insider Trading Of Dell Stock
Marshall 728x90 1 Criminal Club Charged With $62M Insider Trading Of Dell Stock
FA 979 HN MDF SG14 14gen 728x90 1 Criminal Club Charged With $62M Insider Trading Of Dell Stock


YOU MAY ALSO LIKE