It is believed that those at the top of the pyramid are apostle of ethics. It is when the surface is scratched the true human being and his character is revealed.
Headlines: Debt scheme redemptions: SEBI to charge key officials of Franklin MF with fraud
It is surprising to know that Insider Trading is associated with Mutual Fund. The correct headline should have been:
Mutual Fund and Insider Trading.
Extract from the newspaper Business Line:
Vivek Kudva, Head of Asia Pacific for FT, his wife Roopa, who is a partner and managing director of Omidyar Network India, and his mother, Vasanthi, are alleged to have redeemed over ₹30 crore from the debt schemes between March 20 and April 3, 2020. SEBI found that the concerns of redemption concentration and liquidity risk were known to Vivek Kudva as per various e-mails dated March 18 and 19.
Now who is Vivek and Roopa Kudva:
Name
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Vivek Kudva
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Roopa Kudva
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Qualifications
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IIT Delhi, IIM Ahmedabad
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IIM Ahmedabad
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Associated with (Current and Past)
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Franklin Templeton Investments, Head of APAC
Distributions.
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MD Omidyar Networks India
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Nestle, Director
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IIM Ahmedabad, Member Governing Council
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Tata AIA Life Insurance, Director
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Infosys, Director
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Member, Banks Board Bureau
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SEBI, RBI etc.
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MD and CEO CRISIL
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Source: LinkedIn
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May be after few years we will read the following :
..defendants .. settle proposed enforcement actions without either admitting or denying the allegations..
Please note the enquiry of the case is at a very early stage and this may be contested in the courts.