Mar 26, 02:50 PM

Billionaire Andreas Bechtolsheim Pays $1M to Settle SEC Charges, Faces 5-Year Ban

Andreas Bechtolsheim, the billionaire founder of Sun Microsystems and Arista Networks, has been charged with insider trading by the SEC. Bechtolsheim, also known for being a major investor in Google and having a net worth of over $15 billion, has agreed to pay a civil penalty of nearly $1 million to settle the charges. The SEC's allegations stem from Bechtolsheim's actions surrounding the acquisition of Acacia by Cisco in 2019, where he made a $416k profit. As part of the settlement, Bechtolsheim, age 68, will also be barred from serving as an officer or director of any public company for five years. This case has drawn attention due to Bechtolsheim's significant status in Silicon Valley.