New York (HedgeCo.net) – The SEC has charged an employee of a California research firm with helping a hedge fund get results from a Taiwan telecom company before the revenue was made public, according to the Los Angeles Times.
Bloomberg reports that Don Ching Trang Chu offered to set up a hedge fund manager with employees of Sierra Wireless, Broadcom and Atheros Communications, according to the prosecution.
The suspect was arrested at his home in New Jersey and charged with two counts of conspiracy to commit fraud. If convicted, he could face up to 30 years in prison.
Chu was released on a $1 million bond.
Alex Akesson
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