SAN FRANCISCO (CN) – Chen Tang and six of his friends and relatives made $8 million from illegal inside tips on Tempur-pedic and Acxiom stock, the SEC claims in Federal Court. Tang got the tips from his brother in law Ronald Yee; both were CFOs of venture capital funds, the SEC says.
Tang, and Yee, both 39, both live in of Fremont. Defendants include Zisen Yu, Joseph Seto, Ming Siu, King S. Tang aka James K. Tang, and Ying Kit Yu aka Eddie Yuy.
Relief defendants include Venture Associates Fund I, Tang Capital Partners, Acceleration Capital Partners, American Pegasus Long Short Fund Segregated Portfolio, and some of Tang’s and Yee’s relatives, friends and children.