Former Equifax executive sentenced to prison for insider trading prior to data breach

The
Justice Department announced this week
that former Equifax CIO
Jun Ying has been sentenced to four months in prison for insider
trading. He pled guilty earlier this year for for selling his stock
in the company prior to the announcement that it had been hit with
a
massive data breach in 2017
.

The Security and Exchanges Commission
charged Ying with insider trading last year
. The Department of
Justice says that in August 2017, after learning about the breach,
he began researching the impact that a similar breach had on
another company’s stock price. Later that morning, he promptly
exercised and sold all of his stock options, earning nearly a
million dollars from the sale. In doing so, he avoided a loss of
$117,000 that he otherwise…

Source: FS – All Tech News 2
Former Equifax executive sentenced to prison for insider trading prior to data breach