Brooklyn Chinese Man Sentenced to 27 Months in Prison for $2.3 Million Insider Trading Case.
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Jia Wei Chen, a 32-year-old Chinese-American man from Brooklyn, was sentenced on July 7 in the Eastern District of New York federal court to 27 months in prison and ordered to forfeit more than $1.828 million in illegal gains and pay more than $115,000 in damages for participating in an insider trading scheme involving 13 listed companies.
A Brooklyn man who admitted to illegally earning more than $2.2 million using information from corporate electronic regulatory documents before they became public was sentenced to more than two years in prison.Federal judge Orelia Merchant sentenced Justin Chen to 27 months in prison at a Tuesday hearing, claiming that his crimes "undercut public confidence in markets, which cannot be tolerated," Bloomberg says.In October, Chen pleaded guilty to…
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