Former Qualcomm exec charged with insider trading

Sep 23, 2013

A former senior executive at Qualcomm Inc. has been charged with insider trading, accused of buying shares of the wireless technology company before major announcements.

The U.S. attorney in San Diego says 51-year-old Jing Wang made nearly $250,000 in profits from three illegal trades between 2010 and 2012. Wang is the former president of global business operations for the San Diego-based company.

He surrendered Monday morning to the FBI.

The indictment alleges Wang bought shares before an announced dividend increase, a large acquisition and a strong earnings report.

Also charged are his brother, 53-year-old Bing Wang of China and his former broker, 54-year-old Gary Yin of San Diego.

Explore further: Company town? In Seattle, some fret over Amazon's growth

Related Stories

Qualcomm ups dividend, approves up to $4B buyback

Mar 06, 2012

(AP) -- Mobile phone chip-maker Qualcomm Inc. said Tuesday that its board approved the increase of its quarterly dividend by 16 percent to 25 cents and up to $4 billion in stock buybacks.

'Asia tallest man' hospitalised in China

Jul 08, 2013

A 2.55-metre (8 foot 4 inch) Chinese man who is among the world's tallest living people has been hospitalised for a hip replacement, reports said Monday.

Recommended for you

Shyp reclassifies contract couriers as employees

7 hours ago

Shyp, the quickly growing startup that provides on-demand courier services, said Wednesday it would reclassify its contract workers as employees, becoming the latest high-profile tech company to change how it compensates ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.