On August 10, 2017, Avaneesh Krishnamoorthy pled guilty to engaging in a scheme to commit insider trading. Krishnamoorthy was the vice president and risk management specialist for a New York-based investment bank. Through his position, he learned material nonpublic information concerning the acquisition of a company, whose shares are traded on the New York Stock Exchange, by a private equity fund. He subsequently used this information and traded in the stock options of the company to be acquired. Krishnamoorthy also used material nonpublic information to trade in the securities of two other companies. He made over $78,000 through his unlawful conduct. Krishnamoorthy pled guilty to one count of securities fraud and will be sentenced on November 21, 2017. The maximum sentence is 20 years in prison and $5 million. United States v. Krishnamoorthy, No. 17-mag-03002 (S.D.N.Y.).