Former Goldman programmer accused of insider trading says 'there is a lot of misunderstanding'

The Securities and Exchange Commissionon Wednesday filed a civil lawsuit accusing Yue Han, a former Goldman Sachs employee, with using the company’s own surveillance software to access insider information on upcoming takeovers and make illicit trades.

Business Insider reached out to a Yue Han on LinkedIn asking about the charges. The account lists Han as starting in November 2014 at Goldman. The SEC filing says Han started in early December of last year.

Han responded with message saying “there is a lot of misunderstanding and what they sued against me is not true.”

“I have received the SEC’s legal documents,” he said. “I will have my lawyer to deal with this.”

The SEC alleges Han reaped more than $450,000 in trades he made after accessing insider information at Goldman Sachs. There, he used surveillance software to gain information and make trades in Yodlee, Zulily, Rentrak and KLA-Tencor Corp. from his own trading account and his father’s, the SEC says.

On Han’s LinkedIn profile, it says he still is employed at Goldman, although the SEC’s suit and the bank say this is no longer the case.

Han is believed to be in Shanghai, according to the SEC. The SEC says it froze assets in brokerage accounts owned by Han.

When Business Insider contacted Goldman Sachs November 25, a representative from the bank said: “If these allegations are true, Han violated our trust and ignored extensive training that he received. So we are pleased that the authorities are pursuing action against him.”

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