Missing Fugitive And Moody’s Analyst Deep Shah Ordered To Pay SEC $34.56 Million

Shadow Man

Deep Shah, a former analyst at Moody’s who was tied to the insider trading case with Galleon’s Raj Rajaratnam, now has more reason to never return to the U.S.

20-something year old Shah fled the country (people suspect he went to India) after he was charged with insider trading in 2009. And since then he hasn’t been around to defend himself against the charges.

In March the SEC thought they had located Shah in Mumbai, but unsurprisingly, the fugitive did not respond to multiple notes left on his door, and efforts to get hold of him have failed.

So on August 24, a judge ended Shah’s case with a rare default judgment. 

According to Reuters, it requires Shah to give up $8.2 million of improper profits attributed to his tips, pay $1.76 million of interest, and pay a $24.6 million civil fine. In total, that’s $34.56 million.

Cha-ching! Now they just have to find him.