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Indian American found guilty of insider trading

Investigation has revealed that the accused earned five times the money he invested in the company

Indian-American guilty of insider trading fraud (Image:niu niu / Unsplash)

U.S. Law enforcement authorities found California resident Sivannarayana Barama, 48, guilty of making a profit of US$ 7.3 million in a securities fraud, by gaining access to confidential information about Palo Alto Networks' quarterly financial performance.

United States Attorney Stephanie M. Hinds and Federal Bureau of Investigation Special Agent in Charge Robert K. Tripp announced on Dec.23 2022 that Barama, a former IT specialist at several Silicon Valley technology companies, was found guilty by a federal jury on four counts of securities fraud for trading in the stock of a publicly registered company using secret inside knowledge about the company's financial performance.

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