The Law Offices of Jeff Peterson
  • About Us
  • Practice Areas
    • Mergers and Acquisitions
    • Securities Law
    • Corporate Transactional Law
  • Industries
  • Resources
    • Blog
    • FAQs
  • Contact
  • Search
  • Menu Menu
san diego lawyer

DOJ ANNOUNCES INSIDER TRADING CHARGES AGAINST FORMER TECH EXEC AND TWO OTHERS

October 21, 2016/in News /by Jeff Peterson

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.

Federal Indictment on Fraud and Laundering

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.

Illegal Profits and Trading

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:

https://www.justice.gov/opa/pr/former-california-based-global-vice-president-international-technology-company-and-two-others

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.

Share this entry
  • Share on Facebook
  • Share on Twitter
  • Share on LinkedIn
  • Share by Mail
https://lawofficesjtp.com/wp-content/uploads/2021/10/san-diego-lawyer.jpg 1414 2121 Jeff Peterson https://lawofficesjtp.com/wp-content/uploads/2021/11/JTPlogo-01.png Jeff Peterson2016-10-21 14:33:002022-02-10 10:44:03DOJ ANNOUNCES INSIDER TRADING CHARGES AGAINST FORMER TECH EXEC AND TWO OTHERS
JTP Brandmark

Categories

  • Corporate Transactional Law
  • Mergers & Acquisitions
  • News
  • Personal
  • Securities Law

M&A Articles

  • Charging Bull sculpture in New York CityM&A trends for 2022December 22, 2021 - 2:47 pm
  • M&A AGREEMENTSSANDBAGGING CLAUSES IN M&A AGREEMENTSNovember 10, 2021 - 3:22 pm
  • Law services in Chicago and San Diego - A lawyer's hand, pen and overlayDEFINING A SELLER’S KNOWLEDGE IN AN M&A AGREEMENTOctober 24, 2020 - 5:19 am

Corporate Transactional Law Articles

  • DEI for legal teamsDEI for legal teamsJanuary 11, 2022 - 12:21 pm
  • Closing a business in CAHow to Close a Business in CaliforniaNovember 22, 2021 - 2:36 pm
  • Law Offices of Jeff Peterson at workAN OVERVIEW OF SEC REVISIONS TO FORM ADV AND RECORD-KEEPING RULENovember 9, 2021 - 1:43 pm

Securities Law Articles

  • Chinese companies are delisting off the N.Y.S.E.Chinese Companies Delisting off the NYSEJanuary 4, 2022 - 2:54 pm
  • Words insider trading written on a book.SEC CHARGES CHINESE NATIONAL CITIZENS WITH INSIDER TRADING, OBTAINS ORDER FREEZING $29 MILLION IN U.S. ACCOUNTSFebruary 13, 2017 - 12:11 pm
  • Texas Attorney General Ken PaxtonSEC REFILES FRAUD COMPLAINT AGAINST TEXAS AGOctober 24, 2016 - 8:45 am

LINKS

Privacy Policy
Disclaimer
FAQs

SAN DIEGO

12526 High Bluff Dr.,
Suite 300 San Diego, CA 92130

Phone: 858.792.3666
Fax: 858.792.3667

CHICAGO

444 West Lake Street, 17th Fl.,
Chicago, IL 60606

Phone: 312.583.7488
Fax: 312.548.7480

CONNECT

USERWAY

Small UserWay Logo

Disclaimer: The information on this website is provided for general informational purposes only, and may not reflect the current law in your jurisdiction. No information contained on this site should be construed as legal advice from The Law Offices of Jeffrey T. Petersen or the individual author, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this content should act or refrain from acting on the basis of any information included in, or accessible through, this website without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from a lawyer licensed in the recipient’s state, country or other appropriate licensing jurisdiction.

© The Law Offices of Jeffrey T. Petersen 2022

site design by digitalstoryteller.io

© The Law Offices of Jeffrey T. Petersen 2022

site design by digitalstoryteller.io

SEC ANNOUNCES HIGHS IN ENFORCEMENT ACTIONS FOR FISCAL 2016 Law services in Chicago and San Diego - A lawyer's hand, pen and overlay Texas Attorney General Ken Paxton SEC REFILES FRAUD COMPLAINT AGAINST TEXAS AG Scroll to top

This site uses cookies. By continuing to browse the site, you are agreeing to our use of cookies.

Accept settings

Cookie and Privacy Settings



How we use cookies

We may request cookies to be set on your device. We use cookies to let us know when you visit our websites, how you interact with us, to enrich your user experience, and to customize your relationship with our website.

Click on the different category headings to find out more. You can also change some of your preferences. Note that blocking some types of cookies may impact your experience on our websites and the services we are able to offer.

Essential Website Cookies

These cookies are strictly necessary to provide you with services available through our website and to use some of its features.

Because these cookies are strictly necessary to deliver the website, refuseing them will have impact how our site functions. You always can block or delete cookies by changing your browser settings and force blocking all cookies on this website. But this will always prompt you to accept/refuse cookies when revisiting our site.

We fully respect if you want to refuse cookies but to avoid asking you again and again kindly allow us to store a cookie for that. You are free to opt out any time or opt in for other cookies to get a better experience. If you refuse cookies we will remove all set cookies in our domain.

We provide you with a list of stored cookies on your computer in our domain so you can check what we stored. Due to security reasons we are not able to show or modify cookies from other domains. You can check these in your browser security settings.

Google Analytics Cookies

These cookies collect information that is used either in aggregate form to help us understand how our website is being used or how effective our marketing campaigns are, or to help us customize our website and application for you in order to enhance your experience.

If you do not want that we track your visit to our site you can disable tracking in your browser here:

Other external services

We also use different external services like Google Webfonts, Google Maps, and external Video providers. Since these providers may collect personal data like your IP address we allow you to block them here. Please be aware that this might heavily reduce the functionality and appearance of our site. Changes will take effect once you reload the page.

Google Webfont Settings:

Google Map Settings:

Google reCaptcha Settings:

Vimeo and Youtube video embeds:

Other cookies

The following cookies are also needed - You can choose if you want to allow them:

Privacy Policy

You can read about our cookies and privacy settings in detail on our Privacy Policy Page.

Privacy Policy
Accept settingsHide notification only