Family Of Insider Trading Fugitive Must Forfeit $9M Bond

Law360 (November 8, 2019, 11:31 AM EST) -- A Massachusetts federal judge on Thursday imposed a $9 million bond on the family of a venture capital executive who fled to India to escape an insider trading charge despite a plea from his wife who said the seven-figure forfeiture would leave her and her three children homeless.

U.S. District Judge Nathaniel M. Gorton granted the government’s forfeiture request after the U.S. attorney’s office said Iftikar Ahmed’s refusal to return to the U.S. has prevented the office from prosecuting him. Shalini Ahmed, Iftikar’s wife, sought to intervene, citing the hardship the bond forfeiture would place on her and the three young...

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