MANHATTAN (CN) – The SEC charged six more expert network consultants and employees with inside trading: tipping hedge funds and other investors who reaped $6 million from illegal trades. Four were “consultants” to Primary Global Research, of Mt. View, Calif., and two were employees.
The “consultants” got hundreds of thousands of dollars in “purported consulting fees” for tipping the Primary Global employees and clients, the SEC said Thursday.
Charged were “consultants” Mark Anthony Longoria, Daniel L. DeVore, Winifred Jiau and Walter Shimoon, and Primary Global employees Bob Nguyen and James Fleishman.
The inside trading was primarily in tech stocks, including Advanced Micro Devices, Apple, Dell, Flextronics and Marvell.