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…

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