The SEC has charged a former Equifax manager, Sudhakar Reddy Bonthu, for trading on confidential information he received while creating a website for consumers impacted by a data breach.
According to the SEC’s complaint announced today, Bonthu was told the work was being done for an unnamed potential client, but based on information he received, he concluded that Equifax itself was the victim of the breach
SEC alleges that Bonthu violated company policy when he traded on the non-public information by purchasing Equifax put options
Bonthu sold put options and netted more than $75,000
Bonthu was terminated from Equifax in ...
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