Charges by US Department of Justice have been dropped: Droom founder Sandeep Aggarwal
New Delhi, Feb 19 () Automobile marketplace Droom founder and CEO Sandeep Aggarwal on Wednesday said a civil settlement has been reached with the US Securities and Exchange Commission (SEC) in connection with an insider-trading case.
Also, the US Department of Justice (DOJ) has dropped all charges against him pertaining to the said case, Aggarwal said.
Aggarwal was charged by the DOJ and sued by the SEC in July 2013, relating to events that took place in July 2009, when Aggarwal was a Wall Street analyst.
"Both the matters have been resolved. The charges by DOJ have been dropped and dismissed. A civil penalty of USD 32,500 was levied by SEC, which I have paid. The bar on being associated with any investment advisor, broker and securities analysis - which I quit long ago - continues," Aggarwal said.
Aggarwal founded Droom in April 2014.
"I am very grateful that the US justice system agreed that the dismissal of all charges against me was the right and just result. Now, we can put this permanently behind us and focus on implementing our long-term vision," he said.
- 479 leaked photos purporting to show Putin's secret palace, with an ice rink and pole-dancing room, published by Navalny foundation
- SEBI is hiring young graduate professionals for a monthly stipend of ₹60,000, last date is January 25
- The first pig-heart transplant patient was denied a human heart after failing to follow doctors' orders
- Decentralised file sharing, movie streaming, and much more — these are top five Web3 cryptocurrencies to keep an eye on in 2022
- This Indian couple plans to get married in a Hogwarts-themed metaverse to beat the pandemic's restrictions
- Here are some of Netaji’s inspirational quotes as India remembers its valiant fighter
- Lifecycle of cryptocurrencies – From creation to trade and destruction
- Reliance Industries net profit more than triples in the last eight quarters to $2.8 billion