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Insider blot on failed Apollo deal

2015-04-04 00:12:37| Industrial Machines - Topix.net

New York, April 3 : Two Indian-origin entrepreneurs have been charged by US authorities with insider trading for making over a million dollars in illegal profits through the proposed acquisition of Cooper Tire and Rubber by India's Apollo Tyres. Amit Kanodia of Massachusetts, a 47-year-old entrepreneur and private equity investor, and his friend Iftikar Ahmed of Connecticut, a general partner at a venture capital firm, have been charged with fraud by the US Securities and Exchange Commission in a complaint filed in the US district court in Connecticut.

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