The Chinese in the foreign enterprises by their own efforts to fight up to the high level of role models

In the eyes of outsiders, Wang Jing, a former executive vice president of Qualcomm and President of global business operations, is a role model for the Chinese in making efforts to rise to high levels in foreign companies.

However, according to foreign media reports, because of the suspected Qualcomm stock insider trading case, Wang Jing has been carried out by the FBI investigation. At the same time, the United States Securities and Exchange Commission (SEC) and the United States federal prosecutors have launched a separate civil and criminal proceedings against him.

In fact, since 2012, Wang Jing has disappeared from the sight of Chinese media. Many Qualcomm insiders were surprised to learn the news. According to the SEC's allegations, Wang Jing is suspected of illegally profiting more than 244,000 dollars (about 1.49 million yuan) through insider trading.

In addition to insider trading, Wang Jing was charged with money-laundering, obstruction of government investigations and other charges. If convicted, Wang Jing could face jail in addition to a hefty fine. In addition, the SEC also sued the court for a ban on Wang Jing future executive or board positions in any listed company.

"Even later career is ruined, to tell the truth for the money is not worth it." "The industry has said. According to reporters, Qualcomm has not been charged with any charges. Don Rosenberg, the company's general counsel, Rosenberg that Qualcomm has been fully cooperating with the government's investigation. He also said Wang Jing is no longer a Qualcomm employee.

The SEC bulletin found that Wang Jing actually took leave from May 19, 2012 and resigned from Qualcomm on May 1, 2013. In time, his active leave and departure should be directly related to the alleged insider dealing in the investigation.

Three insider trading

He was charged with Wang Jing by the SEC and the U.S. local attorney's office, as well as his financial agent Gary Yin.

According to the SEC's description, Wang Jing and Gary Yin are members of a church that met each other in 2005. After Wang Jing learned that Yin was a consultant to Merrill Lynch, he began letting Yin help him manage his assets. In October 2005, Wang opened a series of accounts at the San Diego branch of Merrill Lynch.

In 2006, at the suggestion of Yin, Wang Jing established an offshore company called "Unicorn Global Enterprises Ltd" in the British Virgin Islands (BVI), and set up a secret account, and Wang Jing's brother in China, "Wang Bing" (Bing WANG) Listed as the account and owner of the company.

But the SEC believes that Wang Jing actually owns and controls the "unicorn" account deal. "In Merrill's internal computer system, unicorn accounts also point to Wang Jing. Wang Jing also did not declare the existence of unicorn account to Qualcomm. ”

At first Wang Jing set up the account to avoid tax. But later, Wang Jing was also suspected of profiting from buying and selling shares in the insider information he had been informed earlier by Qualcomm executives.

The SEC detailed three suspicious insider trading in the filing. The first is March 1, 2010, Wang Jing learned that Qualcomm is about to announce a 3 billion dollar share repurchase plan and raise the quarterly dividend to buy ahead of the 7700 shares of Qualcomm stock at $36.07 a share.

Second, on December 6, 2010, Wang Jing was informed at a Qualcomm board meeting in Hong Kong that Qualcomm's board had authorized the company to buy Atheros at a price of $45 per share. Wang Jing also bought 10,800 shares of Atheros through the Unicorn account.

Third, before the January 25, 2011 Qualcomm Earnings release, Wang Jing learned that the company would release a strong earnings report and buy 9450 shares of Qualcomm in advance through Gary Yin. According to the SEC's calculations, through the three insider trading, Wang Jing a total profit of at least 244,000 dollars.

In fact, according to the reporter, Wang Jing was aware of the possibility of being investigated in 2012, and on May 19 took a leave to deal with the cover-up.

But according to the SEC's description, it was the Wang Jing's attempt to cover up the accusations that prevented the government from investigating. It is reported that Wang Jing first tried to get Gary Yin to delete the transaction from the inside, and in 2012 set up a "Clearview Resources, Ltd." "The new offshore company to transfer the transaction.

In April 2012, Wang Jing told Gary Yin that he might have been investigated, hoping Gary Yin would help him cover up the facts and make the deals look like his brother Wang Bing. In May 2012, Gary Yin took unicorn company-related materials and flew back to the mainland, where Wang Bing signed.

However, Wang Jing, who was a legal man, was finally wrong, and Gary Yin now faces lawsuits from the SEC and the US federal prosecutors.

Chinese executives who catch the industry dividend

Of course, Wang Jing because of these small profits ruined career, also let the domestic colleagues are sorry unceasingly.

Wang Jing's resume shows that he graduated from Anhui University in 1983 and received a master's degree in international law from Renmin University in 1986, where he went to the United States for further studies, studied international law and obtained a master's degree, and was recruited as a Reed Smith law firm at one of the world's 15 largest law firms.

During his tenure at the firm, Wang Jing began as a legal advisor to Qualcomm. Since Wang Jing has been actively involved in many aspects of the work, especially in the Asia-Pacific region and even the Chinese market to explore. In the end, the Wang Jing is seen and dug by Qualcomm, and the firm is job-hopping to serve.

In 2001, Wang Jing as senior vice president of Qualcomm, and Mengpo, the president of the time, mainly manages the specific affairs of Qualcomm China. According to the people who have contacted Wang Jing, he has a rigorous style of work and a strong purpose. In 2003, Wang Jing was promoted to Qualcomm China's chairman.

Starting in the 2003, the wave of the mobile era has just begun to sprout, and then all the way up. The main mobile phone chip business Qualcomm, along with the domestic mobile phone market volume growth, its China business has also grown. Wang Jing's performance and capabilities have also been reaffirmed at Headquarters.

In January 2008, Qualcomm announced the promotion of Wang Jing as executive vice president of the company and a member of the executive Committee of the company responsible for Qualcomm's market operations in Asia-Pacific, the Middle East and Africa.

It can be said that Wang Jing is the trend of the development of the industry at the same time by virtue of outstanding ability, and finally successfully promoted to the Qualcomm Global management of a member. "There are not many Chinese who can rise to such a position in a multinational company. "There is an industry assessment that, in addition to the industry dividend, Wang Jing's ability can also be seen."

However, Wang Jing's promotion has not stopped. With China's domestic 3G licensing and the advent of the smart-machine era, Qualcomm has a higher level of business in the world, especially in China and Asia Pacific, with a market capitalisation beyond Intel (23.7, 0.00,-0.02%). In 2011, Wang Jing was promoted to the global business operations president, leading the global business operations.

Review Wang Jing past career experience, can even use the rise to describe. However, according to the SEC disclosure, it was at the height of the Wang Jing in 2011, he was involved in several insider trading cases that his glorious resume was suddenly ruined.