Three employees at San Francisco cloud communications company Twilio are among seven people charged in connection with a $1 million insider trading scheme, the Securities and Exchange Commission announced.
According to an agency statement, engineers Hari Sure, Lokesh Lagudu and Chotu Pulagam, along with acquaintances Dileep Kamujula, Sai Nekkalapudi, Abhishek Dharmapurikar and Chetan Pulagam were charged. The seven are accused of generating more than $1 million in collective profits by insider trading ahead of the company’s earnings announcement in May of 2020.
The complaint went on to allege the employees tipped off or used brokerage accounts of their family and close friends to trade Twilio stocks and options ahead of the announcement.In a separate statement, Northern California U.S. Attorney Stephanie Hinds’ office detailed criminal charges against Kamujula, a 35-year-old Fremont resident. Kamujula has been charged on two counts.
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