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
The SEC complaint is now available:
SEC v. Nicos Achilleas Stephanou, Ramesh Chakrapani, Achilleas Stephanou, George Paparrizos a/k/a Georgios Paparrizos, Konstantinos Paparrizos, Michael G. Koulouroudis and Joseph Contorinis
oh please, i mean, i may not know alot about “trading”(so to speak), but i know Ramesh and he is one of the greatest men i have ever met.. So give it a rest already!! Go eat some chocolate