$25 Million Judgment

first_imgThe U.S. Securities and Exchange Commission has won a $24.6 million default judgment against Deep Shah, a fugitive in the Galleon insider trading case.Shah, an ex-analyst at Moody’s, was charged with providing insider tips to Intel’s Roomy Khan, who in turn passed them onto Galleon founder Raj Rajaratnam, who was recently convicted of insider trading.Lawyers for the SEC said Shah had been traced to Mumbai, where a bailiff delivered a complaint at his residence in Juhu in March 2010. He did not respond to the complaint and the judge issued a default judgment.  Related Itemslast_img read more