Wednesday, December 29, 2010

The Insider Show Arrests Continue

A California woman has been arrested on charges of leaking secrets about technology companies to hedge funds, reports Reuters.

Winifred Jiau, 43, was charged with one count of securities fraud and one count of conspiracy, said U.S. Attorney Preet Bharara for the Southern District of New York. Jiau faces up to 20 years in prison on the securities fraud charge.

Prosecutors said that from 2006 to 2008, Jiau leaked inside information, including earnings, about multiple publicly traded companies including Marvell Technology Group Ltd and Nvidia Corp to hedge funds, in exchange for more than $200,000 of payments.

The chill over Wall Street intensifies as a bunch of ego maniac government attorneys continue to press on with headline arrests for non-crimes.

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