Fremont Man Gets Prison For Securities Fraud Scheme
India-West Staff Reporter
OAKLAND, CA – Dileep Kumar Reddy Kamujula has been sentenced to six months in prison and ordered to forfeit $130,369.28 by a district court.
Kamujula, 37, of Fremont, pleaded guilty to the charge on November 3, 2023. According to his plea agreement, Kamujula admitted that between April 9 and April 30, 2020, he used confidential Twilio customer usage data when purchasing approximately 167 Twilio call options that he sold on May 7 and May 8, 2020. Kamujula obtained confidential information from a relative who worked at Twilio and made a profit of more than $550,000 on the transactions.
A federal grand jury indicted Kamujula on March 24, 2022, charging him with securities fraud.
In addition to the prison term, Judge Jon S. Tigar also sentenced the defendant to serve three years of supervised release, to begin after the prison term. Judge Tigar ordered the defendant to surrender to begin serving his prison term on April 15, 2024.
Steve
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There would be a no case against him, if he was a US politician.
February 21, 2024Angad Karunan
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There are plenty of ex-US politicians and highly influential people who went to prison for insider trading. Sitting congressman and women are not charged because the law of the land doesn’t prohibit insider trading for them. If the law changes by the will of the people, the enforcement authorities are always hard at work to serve justice swiftly.
March 17, 2024