Wednesday, 26 October 2016
Last updated 16 hours ago
Aug 29 2011 | 1:25pm ET
Stanley Ng, accused of passing confidential information to a Primary Global Research consultant who then sold it to hedge funds, remains free on bail after a New York federal court approved his $50,000 bond.
Ng was arrested at his California home earlier this month, the 15th person to be charged in the Justice Dept.'s crackdown on expert networks. He was accused of passing information about his former employer, Marvell Technology Group, to Winifred Jiau, who was convicted in June of selling those tips to two hedge funds.
Ng was released on a $50,000 bond after his arrest. Friday marked his first appearance in court in New York; his bail is to be secured by $50,000 in property.