Shahriyar Bolandian has been convicted by a federal jury in Los Angeles on insider trading charges related to a scheme that allegedly netted more than $650,000, the Justice Department said Thursday.
Bolandian allegedly received material non-public information about two corporate acquisitions from a friend who was an investment banking analyst at J.P. Morgan Securities LLC. He allegedly used the inside information to trade before the public announcements of Integrated Device Technology Inc.’s planned acquisition of PLX Technology Inc., and Salesforce.com Inc.’s acquisition of ExactTarget Inc., according to the DOJ.
He was convicted of six counts of insider trading and ...