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Ex-Qualcomm executive arrested for insider trading

Source: Internet
Author: User
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Absrtact: September 23, the former executive vice president of Qualcomm, Wang Jing, was arrested in Monday by the Federal Bureau of Investigation (FBI) and indicted by U.S. federal prosecutors for allegedly insider trading and conspiracy with his brothers and brokers to launder money. It is reported that the SEC

The former executive vice president of Qualcomm, Wang Jing, was arrested in Monday by the U.S. Federal Bureau of Investigation (FBI) for allegedly insider trading and conspiring with his brothers and brokers for money laundering, and was recently indicted by U.S. federal prosecutors.

The SEC alleges that Wang Jing and his agents have opened offshore accounts in the name of the Wang Jing Brothers to evade taxes, the Securities and Exchange Commission reported. and illegally profiting more than 244,000 dollars through insider trading, Guery Yin, a former Merrill Lynch broker, also profited more than $27000.

It is noteworthy that Qualcomm has been charged with the incident and is currently cooperating with the U.S. government in its investigation.

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