Following his sentencing in a parallel criminal case earlier this year, the U.S. Securities and Exchange Commission (SEC) has now obtained final judgment, imposing sanctions on a man who was convicted of insider trading.
The regulator secured a final consent judgment against Kevan Sadigh in its enforcement action against him, concluding a case against him that was brought by the SEC in August 2015.
In that case, the SEC alleged that Sadigh traded on information about pending corporate acquisitions in 2012 and 2013 that he received from a friend, who had allegedly been tipped to the deals by an analyst at J.P. Morgan Securities LLC.
The final consent judgment includes a permanent injunction against Sadigh, enjoining him from violating securities rules, and orders US$108,120 in disgorgement against him — a remedy that’s deemed satisfied by the forfeiture order imposed on him in the parallel criminal case.
Earlier this year, Sadigh — who was convicted on seven counts of insider trading by a jury in 2024 — was sentenced to two years of probation, ordered to forfeit US$36,684 and to pay a monetary judgment of US$206,525.
At the same time, another man, Shahriyar Bolandian — who was convicted of six counts on insider trading in connection with the same scheme in a separate trial — was sentenced to 24 months in federal prison. U.S. authorities alleged that he obtained US$450,000 in illicit profits from the scheme.
The analyst, who was accused of tipping the traders, was acquitted by a federal jury in 2017.
The SEC said that the illicit trading activity was discovered through its analysis of trading data.