Galleon fugitive Deep Shah located in India
A former Indian-American Moody`s analyst is accused of tipping Roomy Khan about the takeover of Hilton Hotels Corp by Blackstone Group LP.
New York: A former Indian-American Moody`s analyst, who was declared a fugitive two years ago in the case of Galleon Group founder Raj Rajaratnam, has been located in Mumbai, according to court papers.
In an affidavit filed in US district court in Manhattan on Friday, the Securities and Exchange Commission said a bailiff in Mumbai located Deep Shah`s residence in Juhu, Mumbai on March 22 last year and left an amended complaint.
Shah is accused of tipping Roomy Khan, a former Intel Corp executive, about the takeover of Hilton Hotels Corp by Blackstone Group LP.
Pleading guilty in October 2009, Khan said she bought stock in July 2007 based on tips about a pending merger provided by a ratings service analyst covering hotel stocks who got the information from the target company.
Federal prosecutors charged Shah in November 2009. He was also sued by the SEC in 2009.
The SEC on Friday also filed papers with the court noting that Shah is in default in the case, having failed to file an answer to the charges or to make an appearance.