A venture capital exec facing insider trading and fraud charges has vanished

Catch me if you canYouTubeAhmed’s on the run like Frank Abagnale Jr.

A former partner at Connecticut-based Oak Investment Partners is on the run after regulators accused him of insider trading and fraud, reports Reuters’ Nate Raymond.

Iftikar Ahmed was arrested back in April and criminally charged for insider trading.

He allegedly colluded with a friend whose wife was the general counsel at an India-based tire company that was planning to acquire another company.

The friend, Amit Kanodia, allegedly tipped Ahmed off before the attempted deal, and Ahmed reportedly made more than $US1 million from the information.

Now he’s nowhere to be seen.

The SEC says he left the country, and a federal judge in Connecticut, where Ahmed lives, granted a request to freeze his assets.

He was also facing civil charges from the SEC.

Ahmed, who is reportedly a Harvard Business School grad, faces a $US5 million fine and up to 20 years in prison.

That is, if officials catch up to him.

NOW WATCH: How Forensic Accountants Use Benford’s Law To Detect Fraud

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.