Trader Seeks Dismissal Of Insider Trading Charges

Law360, New York (September 14, 2010, 4:38 PM EDT) -- Indicted securities trader Ahmad Haris Tajyar has asked a federal judge to drop the government's insider trading charges against him, maintaining that prosecutors have failed to prove that he intended to benefit from his alleged misconduct.

On Monday, Tajyar filed a motion to dismiss the 15-count indictment against him in the U.S. District Court for the Central District of California.

“There is no general prohibition on the trading of securities based on material, nonpublic information. Yet the [first superseding indictment] alleges liability for exactly that, and...
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