Former Ubiquiti Networks Distributor Says SEC Contacted Him on Iran Sales, Cash Movements

Asim Sajwani, a former master distributor for Ubiquiti Networks

, told Benzinga late Thursday he was contacted recently by three investigators from the SEC (he would not name them) regarding his relationship with the San Jose, CA wireless technology company. Sajwani said the investigators were interested in movements of cash as well as sales of technology to Iran. He said he was told also to expect a call from the FBI. A

circulated on Thursday, caused UBNT shares to plunge from a high of $13.15 to a low of $9.37. Ubiquiti Networks CFO John Ritchie told Benzinga the company has not been contacted by the SEC.