A San Mateo man was charged in a federal indictment for his alleged role in a scheme to commit insider trading and money laundering, U.S. Department of Justice officials said Thursday.
According to an indictment returned Wednesday, when Christopher G. Salis, 39, was a global vice president of the software corporation SAP, based in the company’s Palo Alto office, he disclosed confidential information about SAP’s acquisition of the travel management company Concur to Douglas M. Miller of Dyer, Indiana.
Douglas Miller, 40, and Edward M. Miller, 43 of Munster, Indiana, and others then allegedly bought securities in Concur with the intention of profiting from these purchases and returning a portion of the profits to Salis, Department of Justice officials said.
Sanjay Valvani, the hedge fund manager who was indicted last week for allegedly paying a former US Food and Drug Administration official for inside information on product approvals, was reportedly found dead Monday night.
Vatican investigators have accused the shadowy organisation known as the Pope’s merchant bank of money laundering,insider trading and market manipulation, it has emerged.
Details of the alleged crimes committed by the institution, the Administration of the Patrimony of the Holy See (APSA), said to have been between 2000 and 2011, have been passed to authorities in Italy and Switzerland. Investigators say the illicit activity involved bank accounts held in these countries.