The Department of Justice announced this week that a former Palo Alto, California, based global vice president of SAP SE and two others were indicted for their roles in a scheme to commit insider trading and money laundering, allegedly resulting in hundreds of thousands of dollars in profits.

Christopher G. Salis, a former SAP global vice president, and Douglas and Edward Miller, were charged in the federal indictment returned yesterday by a grand jury in the Northern District of Indiana.

The indictment charges all defendants with conspiracy to commit wire fraud and securities fraud, conspiracy to commit money laundering and conspiracy to structure currency transactions involving a financial institution for the purpose of evading reporting requirements.  Salis was also charged with multiple counts of wire and securities fraud.

According to the indictment’s allegations, while Salis was employed with SAP, he obtained material, non-public information about SAP’s acquisition of Concur, which he improperly disclosed to Douglas Miller.  The indictment alleges that Douglas Miller, Edward Miller and others then traded in securities in Concur at a profit and returned a portion of the profits to Salis.  Following the acquisition, the indictment alleges Douglas Miller made approximately $119,000 and Edward Miller made approximately $149,000. In total, Salis allegedly received nearly $90,000 from his co-conspirators

The press release from the DOJ can be found at the following link:


Jeff Petersen is an attorney licensed in California and Illinois representing clients in a broad spectrum of SEC investigations and enforcement proceedings. He can be reached in California at 858.792.3666 and in Illinois at 312.583.7488.