UPDATE 1-U.S. charges former Equifax executive with insider trading

From Reuters - March 14, 2018

WASHINGTON (Reuters) - U.S. authorities have filed criminal and other charges against aformer Equifax executive over alleged insider trading linked to the credit reporting companys massive data breach made public last year, officials said on Wednesday.

Jun Ying, the former chief information office for one of the companys units, faces criminal charges filed by the U.S. Attorneys Office for the Northern District of Georgia in addition to anti-fraud charges filed by the U.S. Securities and Exchange Commission.

The SECs complaint alleges Ying used confidential information to determine Equifax had suffered a massive data breach. After realizing the risk to the company, he exercised all his vested Equifax stock options and immediately sold the stock, receiving over $950,000 in proceeds, the SEC said.


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