Feeds

Ex-Nvidia man coughs to insider trading charge

It's a fair cop, guv

  • alert
  • submit to reddit

Mobile application security vulnerability report

Former Nvidia staffer Manu Shrivastava, who was fingered last August by the US Securities and Exchange Commission and the San Francisco District Attorney's office for alleged insider trading, yesterday pleaded guilty to the crime.

Shrivastava, 31, was charged last summer with profiting from inside knowledge of Microsoft's plan to hand the Xbox graphics development contract to Nvidia.

The SEC said Shrivastava paid $30,825 for Nvidia stock options, acquired after he found out about the Microsoft deal from internal emails but before the alliance had been announced publicly. When the X-box deal was announced, the options became worth $446,000, an increase of well over one thousand per cent.

Shrivastava's guilty plea follows an arrangement with the San Francisco DA and, we assume, the SEC. His profits from the stock sale will be seized by the US government, he agreed.

Sentencing will take place on 28 February 2001. Shrivastava faces up to 15 years in prison and fines of $500,000, though the latter may have been waived through his plea bargain. He also faces a civil action brought separately by the SEC. ®

Related Story

Former Nvidia engineer nabbed for insider trading

The Power of One Brief: Top reasons to choose HP BladeSystem

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.