Inside Trader Jiau Sentenced to 4 Years

      MANHATTAN (CN) – Winifred Jiau, a consultant at a California-based expert-networking firm, was sentenced Wednesday to 4 years in federal prison for her part in an inside-trading ring.



     A jury convicted Jiau in June of selling inside information to hedge funds, which made more than $3 million from it.
     Jiau was paid more than $200,000 for the information.
     U.S. District Judge Jed Rakoff imposed the sentence.
     “Wini Jiau conducted herself as though insider trading was a game,” U.S. District Attorney Preet Bharara said in a statement announcing the sentence. But it’s not a game, Bharara said.
     Jiau also was ordered to forfeit $3.1 million, “the amount of proceeds obtained as a result of the securities fraud and wire fraud offenses,” prosecutors said in the statement.
     Two co-defendants, Samir Barai and Noah Freeman, have pleaded guilty and await sentencing.

%d bloggers like this: