Ifty Ahmed is a general partner with venture capital firm Oak Investment Partners, where he has led investments in such companies as Airespace (acquired by Cisco), GMarket (acquired by eBay) and Kayak (acquired by Priceline). Those deals should have helped make him plenty of money. But, as of today, Ahmed stands accused of participating in an insider trading scheme that netted him $1.1 million.
The Securities and Exchange Commission today filed fraud charges against Ahmed in Connecticut district court. Also charged was Amit Kanodia, a longtime Ahmed pal who is described by the SEC as “an entrepreneur and private equity investor.”