Dileep Kumar Reddy Kamujula was sentenced to six months behind bars and ordered to forfeit $130,369, according to a statement from the U.S. Attorney's Office for Northern California.
Srinivasa Kakkera of Pleasanton was sentenced to 18 months in prison for insider trading, and ordered to pay $2.4 million and Abbas Saeedi of Fremont was sentenced to five months in prison for insider trading and ordered to pay $691,000.
Sivannarayana Barama’s trades based on confidential information obtained ahead of four different Palo Alto Networks earnings announcements at times resulted in profits of more than five times the amount he invested.
Gene Levoff, senior director of corporate law at Apple until he was fired in late 2018, was charged in 2019 with using inside information about Apple’s financial results to trade stock before its public release.
Mounir Gad, 34, of San Jose, was charged with a friend, Nathan Guido, 38, also of San Jose, in separate criminal and civil cases involving insider trading, and agreed to pay SEC fines.
The joint enforcement actions by the Securities and Exchange Commission and the Justice Department involved a high school biology teacher, a gambling debt, a group of friends, WhatsApp messages and two Silicon Valley tech companies.