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ATLANTA (AP) — Prosecutors say a former manager at Equifax has pleaded guilty to insider trading.
The U.S. Attorney's Office in Atlanta says Sudhakar Reddy Bonthu of Atlanta on Monday entered the plea to the federal charge of insider trading. Prosecutors say he traded stock options before Equifax publicly announced a massive data breach in the summer of 2017.
U.S. Attorney Byung J. Pak said in a statement that Bonthu used his inside knowledge of the breach to make more than $75,000 before the company announced it publicly.
The 44-year-old was a software development manager at the time for the Atlanta-based credit reporting agency.
Hackers last year were able to glean the names, Social Security numbers, birth dates and addresses of more than 145 million consumers.
His sentencing is set for Oct. 18.
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