哈佛法学院毕业的律师，因丈夫进行非法内线交易而离职

JD@UVAUID：3503603

麻省理工学院高材生CBA，因内线交易2017年11月认罪后，于2018年3月30日在纽约南区联邦法院接受量刑，而获判15个月监禁。

Rough math:

Every $10,000 illegal profits would lead to more than one month in prison.

https://www.justice.gov/usao-sdn ... urt-insider-trading

Facts:

The Law Firm required its employees, including the Spouse, to abide by a confidentiality policy, which prohibited disclosure of “information received from and about . . . clients . . . [and] other parties involved in transactions with clients.”  In addition, YAN and the Spouse had a history, pattern, and practice of sharing confidences.

On November 22, 2016, the Spouse participated in a call at the Law Firm regarding the potential acquisition.  That same day, YAN, using a brokerage account he had previously set up in his mother’s name, bought 71 options to buy Stillwater Mining stock.  The next day, there were two phone calls between YAN and the Spouse.  After these calls, YAN bought an additional 200 options to buy Stillwater Mining stock.

Negotiations between the Mining Company, represented by the Law Firm, and Stillwater Mining continued to progress, and the Spouse continued to work on the transaction.  On December 1, 2016, after a 78-minute phone call with the Spouse the night before, YAN purchased an additional 100 Stillwater Mining options.

YAN and the Spouse also spoke on the phone multiple times on the night of December 5 and the early morning hours of December 6, 2016.  Later on the morning of December 6, 2016, YAN bought an additional 341 options to buy Stillwater Mining stock.  Later that day, YAN conducted internet research related to insider trading.  For example, YAN searched for “how sec detect unusual trade” and accessed at least three articles on financial websites related to insider trading.  YAN also searched for the name of an individual who was charged in this District in May 2016 with insider trading options."

Early on the morning of December 9, 2016, it was publicly announced that the Mining Company would acquire Stillwater Mining for $18 per share.  Beginning at approximately 9:33 a.m. Eastern time, minutes after the open of regular market trading, YAN sold the Stillwater Mining options he had previously purchased, resulting in a profit of approximately $109,420.  Also that day, YAN conducted Internet searches for “insider trading cases,” and “insider trading options.”

JD@UVAUID：3503603

Eddyxuan 发表于 2018-2-7 10:11
我一直比较好奇是怎么查出来的？10万刀也不是大金额啊。。真的不能有侥幸心理犯法

If you look at the patterns of buying/selling options by the accused, it would not need a rocket scientist to conclude that he knew beforehand the M&A is going to happen. The most stupid move is to sell his options minutes after the market was opened . . .

mistyrainchenUID：2275115

profit虽然不多，但是这case这简直把一个inside trading的flag都攒齐了！不查他都没天理啊！SEC的人大概心里也在吐糟吧：虽然就这么点钱，但是这不查你简直就是侮辱我专业智商……
  
话说ABC这种情况，想再回美国资本市场律师这块估计是很难了, 很有可能要被Disbar。倒不如回国跳甲方。

EddyxuanUID：3592415

JD@UVA 发表于 2018-4-3 00:32
If you look at the patterns of buying/selling options by the accused, it would not need a rocket ...

这智商。。有点对不起他的学历

油炸小花生UID：3420747

JD@UVA 发表于 2018-4-3 00:15
麻省理工学院高材生CBA，因内线交易2017年11月认罪后，于2018年3月30日在纽约南区联邦法院接受量刑，而获判 ...

我去现场听了sentencing，真的挺可惜的，感觉counsel可能给了他一些false hope，一直觉得自己能是community service或者至少有probation，结果法官说你老婆已经回国了有strong incentive to flee，而且也不是很相信他老婆完全不知情：如果他老婆知情，那他就perjury更不靠谱；如果他老婆不知情，那他冒着毁掉他至爱之人的风险干这事也很不靠谱……

这个案子毁了两个精英，他们背后的家庭，一家magic circle firm在美国扎根的努力，中国籍JD在美求职的名声，而收益，只是区区十余万美金，甚至不及女律师一年的salary。圈子如此之小，中美跨洋的关注度几乎断绝了她在professional service领域的发展，想起以前上securities regulation时教授举的投行精英insider trading只能去当星巴克小妹现在还算不算accredited investor的例子，当时只觉搞笑，现在真觉实实在在的沉重。

还是希望当事人能够走出困境，圈子确实小其实也有接触，很佩服她的心态，换我早就要死要活从世界消失了。毕竟人生还长，相信总能在别的地方开出一片新的天地，不要让自己的才华堙没才是。

JD@UVAUID：3503603

感悟：人聪明不是最重要的。诚实更重要。Make an honest living!

mistyrainchenUID：2275115

多年以后看了一眼，这个妻子ABC回国去了金杜做asso，丈夫CBA改了名字回国去了南方科技大学做了researcher……

Carpe_diem0UID：3563364

五円 发表于 2017-11-4 14:54
单凭感觉 hls cls 相当一部分 都是拿律师 biglaw当暂时跳板。。只要一有pe hf的机会都会一股脑蹦进去吧。 前 ...

也有一心只想做litigation的【摊手】

597950193UID：3692729

mistyrainchen 发表于 2021-10-24 11:47
多年以后看了一眼，这个妻子ABC回国去了金杜做asso，丈夫CBA改了名字回国去了南方科技大学做了researcher… ...

而且男的给出自己被遣返的理由是自己被“美方迫害”，国内现在特别吃这一套。不得不说女的太惨了。

ReallywellHyangUID：3883453

597950193 发表于 2021-11-25 16:47
而且男的给出自己被遣返的理由是自己被“美方迫害”，国内现在特别吃这一套。不得不说女的太惨了。

不知道他俩现在还在不在一起....目前看来一个是在深圳一个在上海。

597950193UID：3692729

ReallywellHyang 发表于 2021-11-25 16:49
不知道他俩现在还在不在一起....目前看来一个是在深圳一个在上海。

离婚了，女生再婚了，希望以后能过得好一点。

mistyrainchenUID：2275115

597950193 发表于 2021-11-25 16:47
而且男的给出自己被遣返的理由是自己被“美方迫害”，国内现在特别吃这一套。不得不说女的太惨了。

于是我干了件十分不厚道但是特别爽的事儿……我一同学正好在那个大学做海外人才招聘的，我就给他普及了一下八卦。他说他们居然不知道这男的还有这事儿……