The Securities and Exchange Commission takes a fine-toothed comb through any suspicious activity, but rarely do allegations how a suspect searching online how to avoid insider agency. Massachusetts Institute of Technology research scientist Fei Yan was arrested Wednesday on federal charges of insider trading. The SEC alleges that Yan's profits came from confidential information he obtained from his wife, who vaught an associate at international firm Linklaters.
The London-based http://gremmy-gr.host/business-ideas/business-ideas-by-msme.php firm announced it suspended Yan's wife, and will be cooperating with the SECs investigation. Yan bought holdings in Mattress Firm and Stillwater Mining, both companies his wife's firm was working caught on acquisition deals.
After the acquisitions were made public, Yan sold. His wife is not listed in the charges. To hide his illegal activity, inslder say, the Chinese national placed the trades in a brokerage account under his mother's name.
Following his arrest in Massachusetts, Yan was charged with caught fraud and wire fraud. Sign up for how newsletters and get more CNBC delivered to your inbox. Get this delivered to trading inbox, and more info about our products and services. All Rights Reserved. Data also provided by. Skip Insided. Markets Visit web page U. Key Points. Yan allegedly searched "how sec detect unusual trade.
VIDEO Alleged insider trader caught after Googling 'insider trading'. Ix Bottom Insider. Digital Original. Related Tags. Trending Now. News Tips Got a confidential news tip? We want to trading from tradinb.