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Insider Trader in Lumentum Bhardwaj Pled then Kakkera 18 Months Judge Said He Lied to FBI

By Matthew Russell Lee, Patreon

SDNY COURTHOUSE, Jan 31 – Three indicted insider traders were present in court on August 17, 2022; two cooperators in the case were not. Talk turned to their interviews with the FBI, and so-called "Brutonization" or perhaps even severance.

  On August 17, 2022 U.S. District Court for the Southern District of New York Judge Gregory H. Woods held an in-person proceeding with the three California-based defendants. Inner City Press went and covered it.

   The case centers around suspicious trading in Lumentum Holdings Inc. in connection with two separate potential acquisitions by Lumentum, Coherent, Inc. and Neophotonics Corporation. The defendants are AMIT BHARDWAJ, SRINIVASA KAKKERA, ABBAS SAEEDI. Two of them, it was said, gave statements to the FBI, copies of which they still don't have. The Bruton case was mentioned. 

 Two of the three wanted five monts to review discovery; the other suggested 90 days. Judge Woods went with the five months, until January 18, 2023 at 3 pm.  

  Meanwhile Abbas Saeedi was approved "to take  a day or two trip to Universal Studios or Disneyland," on Patreon here.

 The cooperators, mentioned at the bottom for the SDNY's press release, are Dhirenkumar Patel and Ramesh Chitor.

At least (these?) two cooperators were alluded to on March 22, 2023, when Bhardwaj pled guilty. Inner City Press was there. The plea deal is for 70 to 87 months.

On July 19, "ORDER as to Srinivasa Kakkera: Defendant's motion for a bill of particulars is GRANTED IN PART.

But on August 14, 2023, severance was deemed moot:  The Government, with agreement from counsel for Mr. Kakkera, submits that because the Government anticipates that Mr. Saeedi will enter a plea of guilty on August 18, 2023, that motion should be treated as moot. ENDORSEMENT: Application granted.

And on September 5, Inner City Press was in the courtroom when Kakkera pled guilty, to Count 7. His sentencing was set for January 3, 2024 at 10 am.

Kakkera was sentenced to 18 months, to begin on April 3, 2024. On January 24, 2024 this:

"Hello,  Please remove any/all news related to me from your sites. I am based out of California and request you to remove the news at the earliest. thanks, Srinivasa Kakkera."

 But it's a public court case, for securities fraud. Is there some California law to hide this?

On January 31, 2024, the sentencing transcript became available. Judge Woods said: "Mr. Kakkera's crimes were very serious... He obstructed justice by lying to the FBI and concocting false documents to cover up his crime... He is a felon, he committed this crime."

The case is US v. Bhardwaj, et al., 22-cr-398 (Woods) 


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