• Home
  • Metro Asian News
  • Misc Asia
  • Lifestyle
  • Business
  • Art
  • Health
  • Eat Out
  • Events
  • Podcast
ABOUT
Advertise in GAT
Contact us
Tuesday, February 7, 2023
Georgia Asian Times
International Insurance of Georgia
  • Home
  • Metro Asian News
  • Misc Asia
  • Lifestyle
  • Business
  • Art
  • Health
  • Eat Out
  • Events
  • Podcast
  • Login
No Result
View All Result
  • Home
  • Metro Asian News
  • Misc Asia
  • Lifestyle
  • Business
  • Art
  • Health
  • Eat Out
  • Events
  • Podcast
No Result
View All Result
Georgia Asian Times
No Result
View All Result
  • Home
  • Metro Asian News
  • Misc Asia
  • Lifestyle
  • Business
  • Art
  • Health
  • Eat Out
  • Events
  • Podcast
Home Headline

Former Equifax employee indicted for insider trading

Georgia Asian Times by Georgia Asian Times
March 14, 2018
in Headline, Metro Asian News

This July 21, 2012, photo shows Equifax Inc., offices in Atlanta. Credit monitoring company Equifax says a breach exposed social security numbers and other data from about 143 million Americans. The Atlanta-based company said Thursday, Sept. 7, 2017, that "criminals" exploited a U.S. website application to access files between mid-May and July of this year. (AP Photo/Mike Stewart)

Share on FacebookShare on Twitter

Atlanta, March 14, 2018 – Jun Ying has been indicted on federal charges of insider trading relating to his sales of Equifax Inc. securities in advance of its announcement regarding a data breach.

This July 21, 2012, photo shows Equifax Inc., offices in Atlanta. Credit monitoring company Equifax says a breach exposed social security numbers and other data from about 143 million Americans. The Atlanta-based company said Thursday, Sept. 7, 2017, that “criminals” exploited a U.S. website application to access files between mid-May and July of this year. (AP Photo/Mike Stewart)

“This defendant took advantage of his position as Equifax’s USIS Chief Information Officer and allegedly sold over $950,000 worth of stock to profit before the company announced a data breach that impacted over 145 million Americans,” said U.S. Attorney Byung J. “BJay” Pak. “Our office takes the abuse of trust inherent in insider trading very seriously and will prosecute those who seek to profit in this manner.”

“The alleged actions of this defendant undermine the public’s confidence in the nation’s stock markets,” said David J. LeValley, Special Agent in Charge of FBI Atlanta. “By prosecuting cases like this, the FBI and the U.S. Securities and Exchange Commission are sending a strong message to company insiders that they must follow the same rules that govern regular investors. Otherwise, they face the severe consequences for failing to do so.”

According to U.S. Attorney Pak, the charges, and other information presented in court: Equifax Inc. is a consumer credit reporting agency headquartered in Atlanta, Georgia. During the summer of 2017, Equifax was the victim of a data breach, where hackers acquired names, Social Security numbers, birth dates, and addresses of over 145 million American citizens. Jun Ying was the Chief Information Officer of Equifax U.S. Information Solutions in August 2017. In that role, he became aware of information that resulted in him determining that Equifax had been the victim of that data breach before that information was made public.

AD: High Museum of Atlanta

On Friday, August 25, 2017, Ying texted a co-worker that the breach they were working on “Sounds bad. We may be the one breached.” The following Monday, Ying conducted web searches on the impact of Experian’s 2015 data breach on its stock price. Later that morning, Ying exercised all of his available stock options held at UBS Financial Services, resulting in him receiving 6,815 shares of Equifax stock, which he then sold. He received proceeds of over $950,000, and realized a gain of over $480,000. On September 7, 2017, Equifax publicly announced its data breach, which resulted in its stock price falling.

Jun Ying, 42, of Atlanta, Georgia, will arraigned later this week before U.S. Magistrate Judge Linda T. Walker on the charges. Ying was indicted by a federal grand jury on March 13, 2018. Members of the public are reminded that the indictment only contains charges. The defendant is presumed innocent of the charges and it will be the government’s burden to prove the defendant’s guilt beyond a reasonable doubt at trial.

This case is being investigated by the FBI. The U.S. Securities and Exchange Commission made contributions to the case.

Assistant U.S. Attorneys Christopher J. Huber and Lynsey M. Barron are prosecuting the case.

Previous Post

Japan leaves door open for PM Abe-Kim Jong Un summit

Next Post

Gov. Deal declares March-Colorectal Cancer Awareness Month

Georgia Asian Times

Georgia Asian Times

Related Posts

Metro Asian News

Key Republican wants Georgia as early primary state — in 2028

February 6, 2023
GOP candidates in Georgia split over Trump’s election lies
Metro Asian News

Governor Brian Kemp’s 2023 State of State address

January 26, 2023
Rep. ­­­­­­Soo Hong named Vice Chair of Reapportionment & Redistricting Committee for State House
Metro Asian News

Rep. ­­­­­­Soo Hong named Vice Chair of Reapportionment & Redistricting Committee for State House

January 20, 2023
Georgia’s first AAPI Legislative Caucus outlined legislative goals for 2023
Metro Asian News

Georgia’s first AAPI Legislative Caucus outlined legislative goals for 2023

January 17, 2023
Asian Restaurant Council elects new President and leadership team
Business

Asian Restaurant Council elects new President and leadership team

January 13, 2023
Governor Brian Kemp officially inaugurated to start his second term
Metro Asian News

Governor Brian Kemp officially inaugurated to start his second term

January 12, 2023
Next Post

Gov. Deal declares March-Colorectal Cancer Awareness Month

Signup Free E-Newsletter

Upcoming Events

Feb 18
6:00 pm - 11:00 pm

Spring Festival 2023

View Calendar
Logo

 

CONTACT US

Follow Us

MOST INFLUENTIAL

GAT 25 Most Influential Asian Americans Gala celebrates Asian voice

GAT 25 Most Influential Asian Americans Gala celebrates Asian voice

July 18, 2022

Video highlights of GAT 25 Most Influential Asian Americans in Georgia

July 17, 2022

2022 GAT 25 Most Influential Asian Americans in Georgia-Awards Gala

July 17, 2022

LINKS OF INTEREST

ATL Asian Film Festival

GAT on Facebook

Lunar New Year of Rabbit - GAT Special Section
  • Contact Us
  • Advertise in GAT
  • ABOUT

© 2023 Georgia Asian Times - Empowered by 8SOL. Managed by Arckopolis.

No Result
View All Result
  • Home
  • Metro Asian News
  • Misc Asia
  • Lifestyle
  • Business
  • Art
  • Health
  • Eat Out
  • Events
  • Podcast

© 2023 Georgia Asian Times - Empowered by 8SOL. Managed by Arckopolis.

Welcome Back!

Sign In with Google
OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?