Featured Articles

Nvidia Shield 2 shows up in AnTuTu

Nvidia Shield 2 shows up in AnTuTu

Nvidia’s original Shield console launched last summer to mixed reviews. It went on sale in the US and so far Nvidia…

More...
AMD CSO John Byrne talks ARM

AMD CSO John Byrne talks ARM

We had a chance to talk about AMD’s upcoming products with John Byrne, Chief Sales Officer, AMD. We covered a number…

More...
AMD Chief Sales Officer thinks GPU leadership is critical

AMD Chief Sales Officer thinks GPU leadership is critical

We had a chance to talk to John Byrne who spent the last two years as Senior Vice President and Chief…

More...
OpenPlus One $299 5.5-inch Full HD phone

OpenPlus One $299 5.5-inch Full HD phone

OnePlus is one of the few small companies that might disrupt the Android phone market, dominated by giant outfits like Samsung.…

More...
KFA2 GTX 780 Ti Hall Of Fame reviewed

KFA2 GTX 780 Ti Hall Of Fame reviewed

KFA2 gained a lot of overclocking experience with the GTX 780 Hall of Fame (HOF), which we had a chance to…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Friday, 17 December 2010 10:57

AMD, TSMC execs face insider trading probe

Written by Nermin Hajdarbegovic


US Attorney's Office files subpoenas

An insider trading probe targeting executives and consultants in several companies has resulted in serious charges against two TSMC and AMD executives in the US.

The FBI and the US Attorney's Office are currently conducting a wide ranging investigation and several subpoenas have already been filed against executives suspected of shady trading practices.

The charges center on TSMC's business development manager Manosha Kaurnatilaka, who allegedly provided confidential information to Primary Global Research, which distributed the confidential information to investors. Kaurnatilaka received $35,000 in return for his services. According to Reuters, Kaurnatilaka was contacted by the FBI a few months ago and asked to cooperate in the investigation.

The investigation also implicated former AMD supply chain manager Mark Anthony Longoria. US Attorney's Office claims Longoria distributed confidential AMD information to Primary Global Research, including revenues, ASP's, sales figures and gross margin information. Longoria cashed in $200,000 for the effort.

Flextronics business development Director Walter Shimoon and Primary Global Research executive James Fleishman were also charged for their involvement. Fleishman was arrested on fraud and conspiracy charges.

"This wasn't market research," said FBI investigator Janice Fedarcyk . "What the defendants did was purchase and sell insider information. Our investigation is most assuredly continuing."

TSMC has already sacked Kaurnatilaka, while Longoria resigned from AMD in late October.

More here.

Nermin Hajdarbegovic

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

Comments  

 
+21 #1 MrScary 2010-12-17 11:37
It´s a must that you guys make a profound reading comprehension for next articles, given the fact of previous aberrations like this.

There aren´t 2 executives from AMD and TSMC, they are manager supliers, please stop lying.

"Also arrested were Mark Longoria, formerly a supply chain manager with AMD; and Manosha Karunatilaka, an account manager with Taiwan Semiconductor Manufacturing Company (TSMC).

AMD's Longoria made more than $200,000 during a two-year period, prosecutors say.

"It appears that AMD is the victim of an insider trading scheme," AMD said Thursday. Longoria resigned from the company on Oct. 22, 2010, and AMD has been cooperating with the investigation, the company said.
 
 
+20 #2 fuadzilla 2010-12-17 13:17
yeah, the paper said it differently...fud will be charged for misinfo trading!!!
 

To be able to post comments please log-in with Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments