Yesterday, Don Chu became the first person arrested in the insider trading scandal that has implicated at least 8 financial firms in the past week.(For background, click here to read more about his involvement >)
And then he was fired.
So Chu probably isn’t the most thankful person today.
The best news is he’s currently out on bail, but he had to fork over $1 million in order to be released.
And, he’s probably having flashbacks from yesterday morning, when the Feds arrested him bright and early at 6 am in Franklin Township in New Jersey.
In case you missed it, in doing so, the Feds not only destroyed his reputation (this may have been deserved, based on what we’ve read), but they made him cancel his flight to Taiwan.
Chu was scheduled to leave on November 28th, but of course, if you’re out on bail, you’re not allowed to leave the country or the state.
It’s really a shame because Chu is apparently a blast to travel with. This is from his company’s website:
“Don is just a fun person to travel with on the highways and byways of Taiwan.”
So to top everything off, Chu is stuck in New Jersey for the holiday, and the person who would have shared the seat next to him for the long flight will probably be stuck next to a snorer. Oof.
Click on the video below to watch Chu leaving the court house on bail.
Business Insider Emails & Alerts
Site highlights each day to your inbox.