SAN JOSE, Calif. - Winifred Jiau of Freemont, Calif. was arrested this week on charges relating to her involvement in an insider trading scheme, according to the FBI.
According to a complaint, Jiau obtained inside information about multiple publicly traded companies and sold the information to portfolio managers at hedge funds. In return, she allegedly received more than $200,000 over a two-year period.
''Between 2006 and 2008, she obtained inside information, including detailed financial earnings, about multiple publicly traded companies, including Nvidia Corp.and Marvell Technology Group Ltd. Jiau sold that information to portfolio managers at hedge funds,'' according to the FBI.
''The hedge funds then traded on the information provided by Jiau. In return, the hedge funds paid Jiau over $200,000 over the two-year period; such payments were made through an expert networking firm that purported to provide 'institutional money managers and analysts with market intelligence' through a 'Global Advisory Team of Experts,' '' according to the FBI.
She has been charged with one count of conspiracy to commit securities fraud and one count of securities fraud.
U.S.-based employees of Taiwan Semiconductor Co. Ltd. and Advanced Micro Devices Inc. were recently among four men charged by U.S. government authorities an alleged insider trading scheme.