Insider Trading Charges Hit Ex-AMD, Dell Employees
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Date: 5/31/2018 @ 1 p.m. ET
Five more people, including former employees with Dell, Advanced Micro Devices and Taiwan Semiconductor Manufacturing, were arrested in the federal government's expanding investigation into insider trading that already has snared executives with several major high tech firms.
Federal prosecutors announcing the arrests Dec. 16 said the defendants were part of a complex scheme that included employees at the technology companies who also worked as consultants for what investigators said was an "expert networking" firm. James Fleishman, a sales manager at the expert networking firm, acted as the conduit between the four consultants and investors, according to prosecutors.
Fleishman, who was charged with conspiracy, reportedly worked for Primary Global Research (PGR), the same place Don Chu was employeed. Chu was arrested in November on similar charges.
"Today's charges allege that a corrupt network of insiders at some of the world's leading technology companies served as so-called 'consultants' who sold out their employers by stealing and then peddling their valuable inside information," U.S. Attorney Preet Bharara said in a statement, adding that the information in the complaint and the plea agreement of Daniel Devore last week "describe criminal conduct that went well beyond any legitimate information sharing or good-faith business practices."
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