US Court Charges Ex-Equifax Software Developer With Insider Trading

[kreslik.news]

Sudhakar Reddy Bonthu, a former software developer at Equifax, was criminally charged for allegedly making a profit through using confidential information entrusted to him by the company to determine if it had suffered a data breach, but before the information became public.

The charges announced Thursday concern Bonthu’s trading in shares options of ‎Equifax in 2017, just a few days before the credit-reporting agency ‎announced that 148 million Americans had their personal information ‎accessed, including social security numbers, driver’s licenses, and credit card ‎numbers.‎

The breach led to the ousting of Equifax’s senior managers including CIO and CSO, and shortly thereafter also ... (read more)