SEC v. Mohammed Pithapurwala, Ammar Kutiyanawalla, and Alifiya Kutiyanawalla (insider trading, 2021)

Settled

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In December 2021 the SEC charged ex-Snap engineer Mohammed Pithapurwala, his brother-in-law Ammar Kutiyanawalla and his wife Alifiya Kutiyanawalla over alleged insider trading in Snap options. On May 27, 2022 Pithapurwala and Alifiya consented to final judgments with penalties of $523,031 and $75,000.

The record

What was ordered

Civil penalty

$598k

Disgorgement

—

Prejudgment interest

—

Total relief

$598k

Alleged gain

—

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

the Securities and Exchange Commission announced this matter on December 9, 2021 as release LR-25285. The respondents named are Mohammed Pithapurwala, Ammar Kutiyanawalla, and Alifiya Kutiyanawalla (2 individuals, 0 entities).

This library tags the matter as insider trading, based on the conduct the regulator describes. Each tag links to a page explaining how that technique works, what statute it engages, and what penalties comparable actions have attracted. The tagging is ours, not the regulator's: agencies charge statutory provisions, not technique names.

The conduct is recorded against equities and options.

Outcome: SEC release LR-25403 (June 1, 2022) says the Central District of California entered final judgments on May 27, 2022 against Pithapurwala and Alifiya Kutiyanawalla, who consented without admitting or denying the allegations. Both are permanently enjoined from violating Section 10(b) and Rule 10b-5, with civil penalties of $523,031 and $75,000. The penalty field is their sum, $598,031. The release does not report an outcome for Ammar Kutiyanawalla, the alleged trader, and I did not check further, so this outcome covers only the other two respondents.

What technique is this, and how does it work?

This action is tagged with one technique in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

• Insider trading — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2021-12-09 Litigation release published
2. 2022-05-27 Final judgments on consent against Pithapurwala and Alifiya Kutiyanawalla (LR-25403)

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• SEC litigation release
• SEC litigation release LR-25403 (final judgments)

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Same matter

The library links these 2 records because they appear to concern one matter: the same lead defendant, an overlapping technique tag and close filing dates, or a shared court docket or a release that cites the other. Records are listed by date filed.

This grouping is the library's, made by matching names, techniques, dates and citations when the site is built. It is not the regulator's or a court's determination that the records are one case, and it errs towards missing a link rather than making a false one.

Related actions

Other actions in the library sharing at least one technique tag with this one.

Record added September 10, 2026. submit a correction.