01 Feb 2009, David Benyon, Operational Risk & Regulation
New York & Washington, DC - The US Securities and Exchange Commission (SEC) has sued a managing director at private equity group Blackstone for insider trading. The scheme involved the use of insider information in shares of US supermarket chain Albertsons. Blackstone vice-president Ramesh Chakrapani reportedly supplied his parents and friends with sensitive material at the time of the 2006 acquisition of Albertsons while working in Blackstone's London office. The suit claims Chakrapani's market abuse brought more than $3.6 million in ill-gotten profits.
© Incisive Media Investments Limited 2015, Published by Incisive Financial Publishing Limited, Haymarket House, 28-29 Haymarket, London SW1Y 4RX, are companies registered in England and Wales with company registration numbers 04252091 & 04252093