Articles about insider trading

all clear

Equifax execs sold shares before mega-hack reveal. All above board – Equifax probe

Senior Equifax executives sold their shares in the credit agency just before its stock price plunged when the world was told it had been thoroughly hacked. The US biz has since probed the transactions, and you'll all be extremely pleased to learn of that investigation's conclusion: there was no wrongdoing, nothing untoward, …
Iain Thomson, 3 Nov 2017
manager

Bank IT fella accused of masterminding multimillion-dollar insider-trading scam

A banking IT expert orchestrated an insider-trading caper that raked in millions of dollars for him and his pals, it was claimed on Wednesday. Between August 2013 and April 2017, Daniel Rivas, 32, worked for an unnamed New York bank in its capital markets technology division. He was hired as a consultant for a new banking …
Iain Thomson, 17 Aug 2017
stock trader image

Top tip for all you insider traders: Don't Google 'insider trading' from your work PC

An MIT postdoctoral staffer was arrested and charged with insider trading after he allegedly searched online for tips on committing the crime. Fei Yan, of Cambridge, Massachusetts, is accused of securities and wire fraud: he allegedly used information from his wife's law practice to make favorable stock trades that netted more …
Shaun Nichols, 14 Jul 2017
hacking

Chinese stock traders hacked lawyers, profited from Intel's Altera gobble, now fined $9m

Three Chinese miscreants have made millions on the stock market using insider information stolen from US law firms. That's according to America's financial watchdog, the SEC, which this month won a default judgment against the trio. The blokes infiltrated systems used by two New York law firms, extracted confidential …
Iain Thomson, 10 May 2017
Hacker

Expedia IT bod gets all-expenses-paid trip to prison after hacking execs' emails for profit

An ex-Expedia IT admin has been fined and jailed for 15 months after he spied on the emails of the travel giant's top brass to make insider trades. According to documents filed in the US district court of Seattle, Washington, Jonathan Ly was hired by Expedia in March 2013 as a mid-level tech support bod. Within three months, …
Iain Thomson, 25 Apr 2017
Wall Street Charlie Sheen

Cali bloke accused of illegally trousering $68k using mom's Apple AuthenTec gobble tip-off

A California chap is accused of illegally using inside information to pocket more than $68,000 when Apple took over mobile security biz AuthenTec. Andrew Kerr, 41, of Livermore, allegedly got a tip-off from his mom about the upcoming acquisition and immediately bought a bunch of shares in AuthenTec. She learned of the deal …
Iain Thomson, 29 Jun 2016
Cash in brown paper envelope CC 2.0 attribution StockMonkeys.com

Ex-SAP exec and pals accused of $500,000 insider trading scam

A former SAP executive and his associates allegedly ran an insider trading ring to net hundreds of thousands of dollars. Chris Salis was, until recently, global vice president and general manager for procurement at SAP. US financial watchdog the SEC claims he used his inside knowledge of SAP's takeover of Business Objects in …
Iain Thomson, 16 Jun 2016
Prison

Insider trading hacker pleads guilty to p0wning press releases

A Ukrainian ne'er-do-well who broke into market computers for an insider trading scheme has entered a guilty plea in the US. The 28-year-old, Vadym Iermolovych, has put his hands up to three charges – conspiracy to commit wire fraud, conspiracy to commit computer hacking, and aggravated identity theft. The US Department of …

SEC: Ukrainian hackers' investment fraud ring raked in millions in 'unprecedented' hack

Analysis The computer hacking and securities fraud ring that was broken up by US authorities this week was "one of the most intricate and sophisticated trading rings that we have ever seen," the US Securities and Exchange Commission has said. Some 32 people were charged on Monday with offenses related to the scheme, which the SEC …
Neil McAllister, 14 Aug 2015

IBM's SPSS buyout: FBI cuffs two on insider trading charges

Two stockbrokers have been arrested and charged with insider trading related to IBM’s £1.2bn acquisition of software firm SPSS in 2009, after three others pleaded guilty. Daryl Payton Jr and Benjamin Durant III have both claimed innocence in the face of charges of conspiracy and securities fraud after being arrested by the FBI …

Software biz founders cough up $5.8m after insider trading brouhaha

Three software company founders must cough up $5.8m to settle insider-trading charges brought by the US Securities and Exchange Commission (SEC). The watchdog claimed Lawson Software’s co-chairman Herbert Lawson took advantage of inaccurate media speculation and analyst reports about merger discussions with Infor Global …
Stock ticker board

Acer pair charged with insider trading for '$72k pre-results stock dump'

Two senior Acer staffers have been charged with insider trading – after allegedly offloading shares worth $72,300 just before the PC giant announced fresh financial losses. Former company mouthpiece Henry Wang and investor relations division senior manager Jiong Yuan Chen were charged in Taiwan late last week along with five …
Paul Kunert, 12 May 2014
Stock ticker board

Acer coughs to insider trading probe on 2 staffers

Senior execs implementing a turnaround strategy at sickly PC maker Acer have another plate to spin after prosecutors stormed the firm's HQ in Taiwan over an insider trading probe. Ten peeps, some of whom are still employed by the firm, were held and quizzed about the alleged offence, according to the New Taipei District …
Paul Kunert, 18 Mar 2014

Foundry Networks CIO charged in $29m insider trading scam

The chief information officer of Foundry Networks, along with two other alleged perps, has been charged with both civil and criminal charges stemming from insider trading during the $3bn buyout of the company by Brocade in 2008. The Securities and Exchange Commission (SEC) civil charges state that David Riley – who has since …
Iain Thomson, 26 Mar 2013
The Register breaking news

Zynga managers fingered in insider trading lawsuit

A class action lawsuit has been filed on behalf of investors over alleged insider dealing by the senior management team at Zynga. Last week, lawyers at Newman Ferrara issued a call for investors who felt they'd been stiffed by Zynga. They now appear to have enough aggrieved parties. The case, filed in the US District Court …
Iain Thomson, 31 Jul 2012
The Register breaking news

Ex-Yahoo! bigwig! admits! insider! trading!

The US stock market regulator has charged an ex-Yahoo! exec and a pal with insider trading after the pair discussed a search engine partnership between Yahoo! and Microsoft. The Securities and Exchange Commission (SEC) said Robert Kwok, who was Yahoo!'s senior director of business management, breached his duty to the company …
The Register breaking news

Galleon hedge fund founder convicted on all 14 counts

Loose lips sink ships – and billionaire hedge fund tycoons that engage in insider trading. The eight women and four men sitting on the jury at the trial of Raj Rajaratnam, founder of the Galleon Group hedge fund which authorities said was at the center of an extensive insider trading network specializing in high tech companies …
channel

SEC charges two with insider trading in Oracle-Sun deal

The US Securities and Exchange Commission has charged two people for running an alleged insider trading scam involving such marquee mergers and acquisitions as Oracle's Sun purchase, Intel's McAfee buy, and HP's acquisition of 3Com. According to the complaint filed on Wednesday by the SEC, the miscreants include a corporate …

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