SEC Charges Perot Worker with Insider Trading

Complaint filed in Dallas federal court

Thursday, Sep 24, 2009  |  Updated 7:00 AM CDT
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SEC Charges Perot Worker with Insider Trading

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The U.S. Securities and Exchange Commission seal hangs on the facade of its building in Washington, DC.

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The Securities and Exchange Commission says it has charged an employee of a Perot Systems affiliate with insider trading related to the Dell Inc. offer to buy Perot Systems this week.
 
In a complaint filed in a Dallas federal court, the SEC says it has charged 53-year-old Reza Saleh. The complaint says he reaped about $8.6 million in "illicit profits."

It alleges the profits results from his knowledge of "material, non-public information that he learned in the course of his employment with, or duties for, two Perot-related private companies and Perot Systems."
 
The SEC is seeking a court order to freeze Saleh's assets.
 
A message left under a listing for Reza Saleh at his Richardson, Texas, home wasn't returned.
 
Saleh works for Parkcentral Capital Management, Plano-based investment firm of former presidential candidate and Perot Systems Chairman Emeritus Ross Perot.

Saleh also works for Perot Investments, which manages Ross' personal financial affairs, and has sometimes attended Perot Systems planning meetings, according to the complaint.

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