Qualcomm Vice President|Sentenced to 18 Months

     SAN DIEGO (CN) – Qualcomm’s former president of global business operations was sentenced Friday to 18 months in federal prison and fined $500,000 for inside trading and money laundering.
     Jing Wang, 52, of Del Mar, pleaded guilty in July 2014 to inside trading, money laundering and obstructing justice.
     He traded on confidential information about Qualcomm through a brokerage account he’d set up in the name of a shell company in the Virgin Islands, Unicorn Global Enterprises.
     After making $758,000 through inside trades, he enlisted his stockbroker and brother to help him cover it up, the U.S. Attorney’s Office said.
     His stockbroker, Gary Yin, pleaded guilty to conspiring to obstruct justice and launder money. He will be sentenced on July 17.
     Wang’s brother, Bing Wang, of China, has been charged and an international arrest warrant has been issued.
     In addition to being Qualcomm’s president of global business operations, he was an executive vice president of the company at large.
     “Jing Wang was a powerful insider at one of the world’s top corporations, but he threw it all away to make a few hundred thousand dollars,” U.S. Attorney Laura Duffy said in a statement.

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