Tuesday, 7 July 2015
Last updated 8 hours ago
Aug 11 2011 | 11:29am ET
The Justice Department has arrested another corporate insider as part of its crackdown on expert networks.
Stanley Ng, a former employee of Marvell Technology Group, was arrested yesterday in California and charged with passing confidential information about his employer to former Primary Global Research consultant Winifred Jiau. Jiau was convicted of selling those tips to hedge funds in June.
Ng's name had come up at Jiau's trial: Another of Jiau's sources, Sonny Nguyen, formerly of Nvidia Corp., testified that he and Ng had taken up Jiau's suggestion to form an "investment club" in which they'd share insider information. Nguyen is one of 12 people in the case to plead guilty.
Ng was released on $50,000 bond. His arrest comes just weeks before the last of the first 14 people charged in the case, former PGR salesman James Fleishman, is to go on trial.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…