The Securities and Exchange Commission charged Ramesh Chakrapani with insider trading. Chakrapani was an employee of the Blackstone Group.
The SEC alleges that Chakrapani tipped off a friend about the pending acquisition of the supermarket company Albertson’s Inc. before the public announcement of the deal in January 2006.
See coverage of the story:
- Steve Schwarzman on Blackstone Insider Trading Brouhaha: ‘I Am Personally Infuriated…’ from WSJ.com’s Deal Journal
- Blackstone Can Expect a Lecture from the Wall Street Journal
- Insider Trading: Now Brought to You by Masters of the Universe from WSJ.com’s Deal Journal
- Blackstone Executive Is Charged With Insider Trading from the The New York Times DealBook