Jun Ying, the former CIO of Equifax, has been charged with insider trading in the run up to their massive cock up in 2017. And quite ^ right too.
The SEC reckoned he’d dumped close to $1 million worth of shares just before Equifax told everyone they’d been hacked. They said:
Ying, who was next in line to be the company's global CIO, allegedly used confidential information entrusted to him by the company to conclude that Equifax had suffered a serious breach.
By doing this, Ying avoided losing $117k, but now, $117k seems a lot less than the amount he will lose by not being able to get another job cos he’s a filthy insider trader (allegedly).
The SEC want him to cough up the million he made, and interest and fines and for him to say he’s sorry he was such a naughty boy.
He’s not just looking at the SEC giving him a good telling off, either. IT seems Georgia want to press criminal charges too.
Good.
