Illegal Trader Profited $450,000 from Illegal Trades, Co-Conspirator Sentenced
Shahriyar Bolandian, 36, was sentenced Monday to 24 months in federal prison for insider trading, U.S. Attorney Martin Estrada announced. United States District Judge Terry J. Hatter Jr. presided over the sentencing and stated that a forfeiture order would be determined at a later date.
Bolandian was convicted in April 2024 following a five-day trial, where a jury found him guilty of six counts of insider trading.
“This defendant – now a convicted felon – illegally traded on inside information to enrich himself and others,” Estrada said. “All those who seek to get rich by manipulating the financial markets and taking advantage of others should think again – there will be consequences for this misconduct.”
According to evidence presented at trial, Bolandian used non-public information about two upcoming corporate acquisitions to trade securities before the deals were publicly announced. The acquisitions involved Integrated Device Technology Inc.’s planned purchase of PLX Technology Inc. in April 2012 and Salesforce.com Inc.’s June 2013 acquisition of ExactTarget Inc.
Bolandian’s illegal trades generated $450,000 in profits, which he used to cover trading losses and repay personal loans.
In a related case, Kevan Sadigh, 37, formerly of Encino and now residing in Miami, was sentenced Monday to two years of probation. Judge Hatter also ordered Sadigh to forfeit $36,684 and pay a money judgment of $206,525. Sadigh was convicted in July 2024 on seven counts of insider trading in a separate six-day trial. His illicit profits totaled approximately $200,000.
The United States Securities and Exchange Commission filed a civil complaint against Bolandian and others in August 2015 in connection with the scheme. That case remains pending.
The case was investigated by the FBI and prosecuted by Assistant United States Attorneys Andrew M. Roach and Solomon D. Kim, along with Trial Attorney Della Sentilles from the Justice Department’s Fraud Section.
The Corporate and Securities Fraud Strike Force, which targets insider trading, accounting fraud, and other crimes affecting financial markets, led the investigation.
