BTCC
/
BTCC Square
/
Global Cryptocurrency
/
Brooklyn Duo Charged in $1M Insider Trading Scheme Involving SEC Filings
Brooklyn Duo Charged in $1M Insider Trading Scheme Involving SEC Filings
8
1
BTCCSquare news:
Two employees of a private firm handling SEC filings have been charged with orchestrating a $1 million insider trading scheme. Justin Chen, 31, and Jun Zhen, 29, allegedly exploited their access to confidential corporate data, trading on non-public information from companies like Purple Innovation and Signing Day Sports.
Prosecutors revealed a coordinated effort, with trades placed minutes apart ahead of merger announcements. The case highlights vulnerabilities in the filing process, though authorities emphasize the defendants were not SEC employees. "Misleading headline," noted former SEC official Marc Fagel. "They worked for a private firm that helps companies with EDGAR filings."
By:
Previous
SEC-EDGAR Filing Employees Charged for $1M Insider Trading Scheme
Next
Singapore Tightens Crypto Regulations, Forcing Exchanges to Obtain Licenses or Shut Down
