Former Equifax executive has been charged with insider trading

Former Equifax executive has been charged with insider trading

A former Equifax executive has been charged by the SEC with insider trading. The exec allegedly sold his company stock before announcing last year’s massive data breach the company experienced.

According to the SEC, Jun Ying, the CIO of an Equifax business unit and the next in line to become the global CIO, apparently received confidential information about the company’s breach before the news was made public. He allegedly sold his shares, making close to $1 million and avoided a $117,000 loss when the company’s stock price tanked after the breach news was made public.

Ying is also facing criminal charges from the US Attorney’s Office for the Northern District of Georgia, SEC said. “Corporate insiders who learn inside information, including information about material cyber intrusions, cannot betray shareholders for their own financial benefit,” Richard R. Best, director of the SEC’s Atlanta office, said in a statement announcing the charges against Ying.

Hamza Khalid

Hamza Khalid is the Lead Editor at The Jolt Journal. You're more than welcome to follow him on Twitter and follow The Jolt Journal on Twitter and Facebook. If you have any questions, concerns, or need to report something in this article, please send our team an email at [email protected]. This story may be updated at any time if new information surfaces.

At The Jolt Journal, no one tells us what to write or how to write it. This is why, in the era of lies and bias, readers turn to an independent source. Rest assured, all information on our website is free of any bias or influence. If you see anything wrong with a story, please don't hesitate to reach out. We do our very best to report on the latest available information.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.