It turns out that the seventh person arrested in the FBI’s insider trading case, and the first woman, is the also the seventh person arrested who worked for expert network Primary Global, like all the other arrestees.
Bloomberg first reported that Jiau also worked for the expert network, which is now utterly shamed out of business, having had employed all of the recent arrestees in the insider trading probe.
Winifred Jiau, who was arrested yesterday in California, has been charged with selling inside information to portfolio managers at three hedge funds according to the FBI complaint.
For $200,000 she is alleged to have given tips on Nvidia Corp. and Marvell Technology, through Primary Global.
Primary Globals said that Jiau served as an “expert consultant” with them from September 2006 to December 2008. It was in 2008 that Jiau is accused of giving two portfolio managers – one who worked for two hedge funds – quarterly financial data on Marvell prior to its public release.
That brings the tally of arrested Primary Global consultants or actual employees to seven. The first person to be handcuffed, remember, was Don Chu, who was fired by the firm in the wake of his alleged crimes.
Jiau has been charged with one count of conspiracy to commit securities fraud and one to commit securities fraud.
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