Tag: insider trading

5 things about AI you may have missed today: AI bot showcases deception skills, AI threat to jobs, more
3Nov By adminNo Comments
Technology

5 things about AI you may have missed today: AI bot showcases deception skills, AI threat to jobs, more

[ad_1] Concern is being voiced after an AI bot showcased its insider trading and deception abilities; The capital of Italy, Rome is set to host the next international AI conference during Italy's G7 presidency; Artists have rebelled against AI plagiarism threat; India has prioritised AI safety alongside growth and innovation- this and more in our daily roundup. Let us take a look.1. AI bot showcases insider trading and deception abilitiesAn AI bot showcased its ability to engage in illicit financial trading by using fabricated insider information to make "illegal" stock purchases without disclosing it, and when questioned, it denied any wrongdoing. The test conducted at the UK's AI safety summit revealed potential risks posed by increasingly autonomous AIs capable of deceiving human ove...
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In US Court, Indian Pleads Guilty In First-Ever Crypto Insider Trading Case
13Sep By adminNo Comments
Business

In US Court, Indian Pleads Guilty In First-Ever Crypto Insider Trading Case

[ad_1] New York: A 26-year-old Indian citizen has pleaded guilty in the first-ever cryptocurrency insider trading case, in which he along with his brother and their Indian-American friend made ill-gotten profits totalling over a million dollars.Nikhil Wahi, a citizen of India and residing in Seattle, on Monday plead guilty to wire fraud conspiracy and wire fraud in connection with a scheme to commit insider trading in cryptocurrency assets by using confidential Coinbase information about which crypto assets were scheduled to be listed on Coinbase's exchanges.Coinbase was one of the largest cryptocurrency exchanges in the world.This is the first time that a defendant has admitted his guilt in an insider trading case involving the cryptocurrency markets.The charge carries a maximum sentenc...
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IIT Alums Became Friends On Wall Street. Then One Turned On The Other.
25Aug By adminNo Comments
Business

IIT Alums Became Friends On Wall Street. Then One Turned On The Other.

[ad_1] Former Goldman banker Brijesh Goel was arrested last month for insider tradingThey were business school buddies who landed at top Wall Street firms -- Goldman Sachs Group Inc. and Barclays Plc -- lived for a time in the same Manhattan high-rise, played squash regularly and partied overseas together.And then one of them wore a wire and recorded his friend allegedly asking him to delete incriminating text messages.Former Goldman banker Brijesh Goel was arrested last month for insider trading. His friend, ex-Barclays trader Akshay Niranjan, is "co-conspirator 1" in the criminal complaint against Goel, and the man who turned on his buddy, according to people familiar with the matter."F---... This we need to delete," Goel, 37, allegedly said in a conversation Niranjan, 33, recorded. "D...
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Several Indian-Origin Persons Charged In Insider Trading Cases In US
25Jul By adminNo Comments
Business

Several Indian-Origin Persons Charged In Insider Trading Cases In US

[ad_1] The SEC's enforcement actions were filed in federal district court in ManhattanNew York: Several Indian-origin persons have been charged with insider trading on Monday in three separate alleged schemes in which they made more than five million dollars in illegal profits.Amit Bhardwaj, 49, the former chief information security officer of Lumentum Holdings and his friends Dhirenkumar Patel, 50, Srinivasa Kakkera, 47, Abbas Saeedi, 47, and Ramesh Chitor, 45, have been charged by the Securities and Exchange Commission. The SEC alleges that these persons, all residing in California, traded ahead of two corporate acquisition announcements by Lumentum and generated more than USD 5.2 million in illicit profits.In another action, the SEC alleges insider trading by investment banker Brijesh...
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