SEC v. Rajeshwar R. Gannamaneni, Deepthi Gandra, and Linga R. Gannamaneni (insider trading, 2018)

Settled

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In December 2018 the SEC charged an IT contractor at a Singapore investment bank, his wife and his father with insider trading ahead of at least 40 corporate events. In June 2019 the SEC announced that Rajeshwar Gannamaneni had agreed to pay $376,414 in disgorgement, $39,379 in interest and a $376,414 penalty. The SEC also said it would drop its claims against the wife and the father.

The record

What was ordered

Civil penalty

$376k

Disgorgement

$376k

Prejudgment interest

$39.4k

Total relief

$792k

Alleged gain

$600k

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 SEC alleged that Rajeshwar Gannamaneni took confidential client information about mergers, acquisitions and tender offers and gave it to his wife Deepthi Gandra and his father Linga Rao Gannamaneni, and also traded through an account in a family member's name. The complaint charged Section 10(b) and, against the two Gannamanenis, Section 14(e).

Outcome. In a release dated 27 June 2019 the SEC said Rajeshwar Gannamaneni had agreed to a settlement under which he is permanently enjoined from the antifraud and tender-offer fraud provisions and pays disgorgement of $376,414, prejudgment interest of $39,379 and a civil penalty of $376,414. The release says the settlement was subject to court approval and that the SEC had moved to voluntarily dismiss the claims against Gandra and Linga Rao Gannamaneni. This record uses the release date as the resolution date because the date the court entered the judgment was not found, and the dismissals of the two relatives were announced, not confirmed from a court order. The figures are for Rajeshwar Gannamaneni only. The facts described remain allegations; the release does not say whether he admitted them.

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. 2018-12-10 Litigation release published
2. 2019-06-27 SEC announces settlement with Rajeshwar Gannamaneni (subject to court approval) and move to dismiss the claims against two relatives

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 24515 (settlement)

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.