East Bay Resident Sentenced To Prison In Securities Fraud Scheme

OAKLAND – Dileep Kumar Reddy Kamujula was sentenced today to six months in prison, and ordered to forfeit $130,369.28, announced United States Attorney Ismail J. Ramsey and Federal Bureau of Investigation Special Agent in Charge Robert K. Tripp. The sentence was handed down by the Honorable Jon S. Tigar, U.S. District Judge.

Kamujula, 37, of Fremont, pleaded guilty to the charge on November 3, 2023. According to his plea agreement, Kamujula admitted that between April 9 and April 30, 2020, he used confidential Twilio customer usage data when purchasing approximately 167 Twilio call options that he sold on May 7 and May 8, 2020. Kamujula obtained the confidential information from a relative who worked at Twilio and made a profit of more than $550,000 on the transactions.

A federal grand jury indicted Kamujula on March 24, 2022, charging him with securities fraud, in violation of 18 U.S.C. §§ 1348 and 2 (Count One), and 15 U.S.C. §§78j(b) and 78ff, 17 C.F.R. §§ 240.10b-5, 240.10b5-1 (Count Two). Kamujula pleaded guilty to Count Two and Judge Tigar dismissed Count One on the government’s motion at the sentencing hearing.

In addition to the prison term, Judge Tigar also sentenced the defendant to serve a three-year period of supervised release, to begin after the prison term, and ordered the defendant to forfeit $130,369.28. Judge Tigar ordered the defendant to surrender to begin serving his prison term on April 15, 2024.

Assistant U.S. Attorney Garth Hire is prosecuting the case with the assistance of Aarian Beiti. The prosecution is the result of an investigation by the Federal Bureau of Investigation. The U.S. Attorney’s Office appreciates the assistance of the San Francisco Regional Office of the Securities and Exchange Commission and Financial Industry Regulatory Authority (FINRA).