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Insider Trading
President Donald Trump's teleprompter operator is on unpaid leave after reports that he used his inside knowledge to make bets about the president's speeches on the online prediction market Kalshi, the White House said Thursday. The firm's enforcement chief said Kalshi contacted federal regulators about bets allegedly made about what the president would say in public addresses. White House press secretary Karoline Leavitt said the president is aware of the situation, which she described as "unfortunate" and "a disgrace." "The White House has extremely strict ethical guidelines with respect to issues like this," Leavitt told reporters, saying the aide is on unpaid leave. ABC News reported Thursday that Gabriel Perez, who has been operating Trump's teleprompter since 2016, used his inside knowledge to win more than USD 100,000 betting on what the president would say in big speeches, including the State of the Union address earlier this year. Robert Denault, Kalshi's lawyer and head
Merchant banker Unistone Capital and its director Jitendra Sanghavi have settled a case with Sebi over alleged violations of insider trading rules in the shares of Cupid Ltd after paying a combined settlement amount of over Rs 67 lakh. The Securities and Exchange Board of India (Sebi) initiated adjudication proceedings against Unistone and Sanghavi for the alleged violations of Prohibition of Insider Trading (PIT) regulations. According to Sebi, the applicants (Unistone and Sanghavi) allegedly entered into contra trades in the shares of Cupid Ltd, with the buy and sell legs executed within a period of six months. They were also accused of carrying out trades in the company's scrip during the investigation period without obtaining the required pre-clearance, the regulator said in an order passed on Tuesday. Thereafter, a Show Cause Notice (SCN) was issued against the applicants on June 13, 2025, by the regulator for the alleged violations. Pending adjudication proceedings, Unistone
British billionaire Joe Lewis, whose family trust owns the Tottenham Hotspur soccer club, was pardoned by President Donald Trump more than a year after he was fined $5 million after pleading guilty to insider trading and conspiracy charges in New York, authorities said Thursday. Lewis, 88, had requested a pardon so he could receive medical treatment and visit his grandchildren and great grandchildren in the United States, according to a White House official who spoke on condition of anonymity to discuss a pardon that has not been officially announced. Lewis pleaded guilty in January 2024, saying he knew that sharing nonpublic information, which he had learned from corporate boardrooms about publicly traded companies, with others who then bought stock in those companies was wrong. At the time of the plea, he was free on $300 million bail. According to prosecutors and an indictment, Lewis shared the secrets with friends, employees and romantic interests from 2019 to 2021, urging them
Sebi Chairman Tuhin Kanta Pandey on Wednesday said following insider trading regulations is the moral responsibility of banks' management who also have to strengthen internal controls to detect and prevent such violations. "Insider trading risks thrive where controls are weak --where processes are unclear, responsibilities are undefined, and oversight is inconsistent," Pandey told managing directors and chief executives of listed banks, noting that weak controls remain the prime reason behind many frauds. This comes against the backdrop of Sebi issuing an interim order in June against few top brass of IndusInd Bank for violating insider trading norms. The regulator had found that few senior executives, including MD & CEO and deputy CEO allegedly traded in IndusInd Bank shares while in possession of unpublished price-sensitive information related to discrepancies in account balances of the bank's derivative portfolio. According to Pandey, a robust internal control framework ensures