A Brookline man was sentenced yesterday for his role in a million-dollar insider trading scheme in 2013 during the lead up to the acquisition of Cooper Tire & Rubber Co. by India-based Apollo Tyre.

Amit Kanodia was given 20 months in prison, two years of supervised release including 100 hours of community service, a fine of $200,000 and forfeiture of $242,500. Kanodia was also ordered to forfeit $242,500, which represented his portion of the illegal trading profits. In October 2016, Kanodia was convicted by a federal jury, following a six-day trial, of one count of conspiracy and 10 counts of securities fraud.

In November 2016, Watson was sentenced to two years of probation and ordered to pay a fine of $25,000. He was also ordered to forfeit the almost $170,000 in illegal trading profits that he made on the scheme. Ahmed is currently still at large.

Brookline Inside Trader Sentenced To Prison, Fined For Million-Dollar Scheme

by Banker & Tradesman time to read: 1 min
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