Features

SAN FRANCISCO — A former business executive was sentenced to 30 months in prison Friday for insider trading. 

Chan Desaigoudar, 64, of Watsonville, was the former chief executive officer of California Micro Devices. He was charged with securities fraud, wire fraud and insider trading. 

According to a plea agreement, Desaigoudar admitted that in 1994, he was aware of “widespread” accounting fraud at the Milpitas-based electronics company. He said the company booked revenue for products never shipped. He admitted illegally profiting $572,000 in stock sales from the faulty bookkeeping. 

U.S. District Judge Vaughn Walker ordered restitution in that amount and also handed him three years post-prison supervision.