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Former eBay and PointRoll Execs Busted for Insider Trading

Jason Del Rey has been a business journalist for 15 years and has covered Amazon, Walmart, and the e-commerce industry for the last decade. He was a senior correspondent at Vox.

Chris Saridakis, who resigned abruptly as president of eBay’s retail services division eBay Enterprise in January, has agreed to pay a $664,822 penalty to settle charges of insider trading, the U.S. Securities and Exchange Commission said on Friday. The SEC alleged that Saridakis urged friends and family, including ad tech firm PointRoll’s founder and former CEO Jules Gardner, to purchase shares of Saridakis’s former company GSI Commerce in the weeks leading up to eBay’s $2.4 billion acquisition of it. Separately, Saridakis faces criminal charges of securities fraud in the eastern district of Pennsylvania.

This article originally appeared on Recode.net.

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