Skip to main content

This is archived content from the U.S. Department of Justice website. The information here may be outdated and links may no longer function. Please contact webmaster@usdoj.gov if you have any questions about the archive site.

Press Release

Man Sentenced for Insider Trading Scheme

For Immediate Release
Office of Public Affairs

A California man was sentenced today to two years in prison for his role in an insider trading scheme that netted more than $650,000 in illicit profits.

According to court documents and evidence presented at trial, between 2012 and 2013, Shahriyar Bolandian, 36, of the Brentwood neighborhood of Los Angeles, received material non-public information about two upcoming corporate acquisitions from his childhood friend, who was an investment banking analyst at J.P. Morgan Securities LLC. Bolandian then used the inside information to trade in advance of the public announcements of Integrated Device Technology Inc.’s April 2012 planned acquisition of PLX Technology Inc., and Salesforce.com Inc.’s June 2013 acquisition of ExactTarget Inc. As a result of his illegal trades, Bolandian personally made over $340,000, which he used, among other things, to cover previous trading losses and repay loans to family and friends.

In April 2024, a federal jury convicted Bolandian of six counts of insider trading.

Principal Deputy Assistant Attorney General Brent S. Wible, head of the Justice Department’s Criminal Division; U.S. Attorney Martin Estrada for the Central District of California; and Assistant Director in Charge Akil Davis of the FBI Los Angeles Field Office made the announcement.

The FBI Los Angeles Field Office investigated the case.

Trial Attorney Della Sentilles of the Criminal Division’s Fraud Section and former Assistant U.S. Attorney Ali Moghaddas and Assistant U.S. Attorney Andrew Roach for the Central District of California prosecuted the case.

Updated February 6, 2025

Topic
Securities, Commodities, & Investment Fraud
Press Release Number: 24-14