US-Justice-Dept

Entrepreneur sentenced for Cooper-Apollo insider trading scheme

Boston, Massachusetts – A Brookline, Massachusetts-based entrepreneur and private equity investor has been sentenced to 20 months in prison for initiating an insider trading scheme in connection with the failed acquisition of Cooper Tire & Rubber Co. by Apollo Tyres Ltd.

Amit Kanodia, 49, was also sentenced to two years of supervised release, including 100 hours of community service; a fine of $200,000 (€187,000); and forfeiture of $242,500, his portion of the $1 million-plus scheme, according to the US district attorney’s office in Boston.

Kanodia was convicted…

To read more,please login or register below.

Register
This is the first step to more free
content, user offers, subscriptions
and more.
Login
Log in here using the Email Address
and Password you signed up with