U.S. authorities charge former JP Morgan analyst with insider trading scheme

Reuters News
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Posted: Aug 25, 2015 2:10 PM

WASHINGTON (Reuters) - A former analyst with J.P. Morgan Securities and two longtime friends have been charged with an insider trading scheme from which they are alleged to have made more than $600,000 in illegal profits, U.S. authorities said on Tuesday.

Ashish Aggarwal, 27, of San Francisco; Shahriyar Bolandian, 26, of Los Angeles; and Kevan Sadigh, 28, of Los Angeles, are charged with multiple counts of securities fraud, the Justice Department said in a statement.

The Securities and Exchange Commission also charged Aggarwal, who worked in J.P Morgan's San Francisco office, with illegally tipping his close friend with confidential information about clients involved in impending mergers and acquisitions of technology companies, the agency said.

The SEC charged Bolandian and Sadigh with insider trading.

(Reporting by Lindsay Dunsmuir; Editing by Sandra Maler)