Former Equifax Engineer Pleads Guilty To Insider Trading

Law360 (July 23, 2018, 7:17 PM EDT) -- A former software development manager for Equifax Inc. on Monday pled guilty in Georgia federal court to using his inside knowledge of the credit reporting giant's headline-grabbing data breach last summer to make more than $70,000 in profit, authorities said.

Sudhakar Reddy Bonthu, 44, pled guilty to a single count of insider trading for trading stock options that he purchased after deducing from confidential company information that Equifax was the victim of a massive breach the company now says exposed the personal information of around 148 million U.S. consumers.

Bonthu, who worked on the company's response to the breach, bought the...

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