Reuters: Technology News: U.S. charges ex-Qualcomm executive, adviser in insider-trading scheme

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U.S. charges ex-Qualcomm executive, adviser in insider-trading scheme Sep 23rd 2013, 19:40 Tweet Share this Email Print Related Topics Tech » Regulatory News » Breakingviews » A man walks past a Qualcomm advertising logo at the Mobile World Congress at Barcelona, February 27, 2013. Credit: Reuters/Albert Gea WASHINGTON | Mon Sep 23, 2013 3:40pm EDT WASHINGTON (Reuters) - The U.S. government on Monday filed civil and criminal charges against a former executive at the wireless technology company Qualcomm and his financial adviser, alleging they reaped illicit profits by using inside information about the company in trading stocks. The Securities and Exchange Commission's civil lawsuit alleges that ex-Qualcomm executive vice president Jing Wang, 51, and former Merrill Lynch senior vice president Gary Yin, 54, used inside information about the company's financial results and a pending acquisition of Atheros Communications, Inc. to trade stocks and then hid their profits in sham brokerage accounts. The SEC said the U.S. Attorney's Office for the Southern District of California also had filed parallel criminal charges against them. (Reporting by Sarah N. Lynch) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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