Ying Jun (Jun Ying)

Ying Jun (Jun Ying)

Biography

2019: 4 months of prison for insider trade

At the end of June, 2019 the former senior vice president of Equifax Jun Ying was sentenced to a prison term for insider trade. He sold shares of the company after learned about date leak, and used information before its public disclosure.

The U.S. Department of Justice began investigation in September, 2017. In March of the 2018th Securities and Exchange Commission (SEC) brought to Ying charge of insider trade — violation of regulations of the federal legislation on the securities directed to counteraction to fraud.

According to the investigation, Jun Ying "incredibly quickly used and sold practically everything the share options which are available for him at that time" that in turn allowed it to earn nearly $1 million "from air". The former top manager of Equifax avoided losses in $117 thousand which he had to incur while the stock price of the company sharply fell in connection with disclosure of information on the date leak largest in the history which happened in the company in 2017.

Ying thought of an own pecuniary benefit before millions of the people affected by this date leak learned that they became the victims — the prosecutor Byyung J. Pak says (Byung J. Pak). — He abused the trust put in it and the held executive position to benefit by the insider information.

Jun Ying who pled guilty will stay in prison four months, and after release it will be under administrative supervision. Besides, it will have to pay Equifax companies of $117 thousand and to pay for benefit of the state a penalty in the amount of $55 thousand. Charge asked to the ex-director of Equifax imprisonment for a period of one year and three months and also additional monetary collecting in $75 thousand^[1]

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