Alleged Galleon Tipster Settles With SEC

Nov 22 2013 | 11:05am ET

Two-and-a-half years after Galleon Group founder Raj Rajaratnam was convicted of insider-trading, the Securities and Exchange Commission continues to ferret out his alleged sources.

Sam Miri, who worked at Marvell Technology Group, has settled the SEC's allegations for more than $60,000. Miri, who has not admitted or denied any wrongdoing, passed confidential information about the semiconductor company to former Galleon portfolio manager Ali Far, according to the regulator.

During Rajaratnam's trial, Far testified that he had paid Miri for the tips he received. The SEC said Miri received about $10,000.

Far traded on the tips at the hedge fund he founded after leaving Galleon, Spherix Capital.

In addition to the disgorgement and fine, Miri has been barred from serving as an officer or director of a public company for five years.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

Versum Materials (VSM), with a market capitalization of $2.7 billion, enables chipmakers to achieve higher performance at lower cost with enhanced reliability. Versum is a leading global provider of electronic materials for the integrated circuit and flat-panel display markets.