US charges Chinese traders for insider trading

2016-12-28 8

The United States charged three Chinese citizens with trading confidential information obtained by hacking into the servers of law firms. The men were charged with conspiracy, insider trading, wire fraud and computer intrusion in an indictment filed in a Manhattan federal court. Prosecutors said the man made $4 million by placing trades in company stocks after uncovering information from the law firms. The insider information included details deals involving Intel Corp and Pitney Bowes Inc.