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Tuesday, May 21, 2024 | Back issues
Courthouse News Service Courthouse News Service

Qualcomm Insider|Pleads Guilty

SAN DIEGO (CN) - A former Qualcomm sales director faces up to 20 years in federal prison after pleading guilty to making nearly $200,000 from inside trading.

Derek Montague Cohen, 52, of San Diego pleaded guilty Feb. 19 to trading on inside information about Qualcomm's 2011 acquisition of Atheros Communications, the U.S. Attorney's Office said.

Two of Cohen's former colleagues at Qualcomm have pleaded guilty to associated charges.

Jing Wang, 52, of Del Mar, pleaded guilty to inside trading and money laundering, and Gary Yin, 56, of San Diego, pleaded guilty to conspiring to obstruct proceedings and commit money laundering, prosecutors said.

All three await sentencing.

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