Indian investment banker sentenced for attempted extortion

An Indian investment banker was sentenced today to over a year in prison on charges of extortion and threatening a New York state comptroller<br /><br /> official to reveal an extramarital affair if a multi-million dollar pension contract was not awarded in his favor.

hidden October 05, 2011 11:29:56 IST
Indian investment banker sentenced for attempted extortion

New York: An Indian investment banker was sentenced today to over a year in prison on charges of extortion and threatening a New York state comptroller official to reveal an extramarital affair if a multi-million dollar pension contract was not awarded in his favor.

Giridhar Sekhar, 41, was sentenced to 15 months in prison by Senior US District Judge Thomas McAvoy. Following a trial, Sekhar was convicted of one count of attempted extortion and five counts of interstate transmission of an extortionate threat.

According to court documents, Sekhar, a former managing partner of the venture capital and private equity company FA Technology Ventures sent six extortion emails to the General Counsel for the Office of the New York State Comptroller.

Indian investment banker sentenced for attempted extortion

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He had threatened to reveal an alleged extramarital affair unless the General Counsel recommended that the state comptroller commit to a proposed 35 million dollar investment of retirement fund assets in funds managed by FA Technology.

Sekhar sent the messages after learning that his firm would not be getting the contract to manage the multi-million dollar investment.

PTI

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