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Business Former Equifax executive charged with illegally trading before massive data breach was made public

 

Business Former Equifax executive charged with illegally trading before massive data breach was made public

Federal prosecutors on Wednesday charged a former Equifax executive with insider trading, alleging that he profited from confidential information about the massive data breach at the company that compromised sensitive data of 148 million people.

Jun Ying, former chief information officer of a U.S. business unit of Equifax, faces both civil and criminal charges from the Securities and Exchange Commission and U.S. Attorney’s Office for the Northern District of Georgia.

”Ying used confidential information to conclude that his company had suffered a massive data breach, and he dumped his stock before the news went public,” Richard R. Best, Director of the SEC’s Atlanta Regional Office, said in a statement.

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