A former hedge fund consultant has been found guilty of inside trading, after selling information around Nvidia shares and other technology stock ahead of official announcements.
Winifred Jiau was a consultant for Primary Global Research, which matches industry insiders with fund managers. She faces up to 20 years in prison, when sentenced in a Manhattan court in September, the Financial Times reported. Primary Global has not been accused of any insider trading.
As well as Nvidia stock, Jiau also allegedly sold secret earnings information about Marvell Technology Group, a network switch and gateway vendor.
She earned over $200,000 (£124,000) between 2006 and 2008 from selling the data. Her lawyer has said she plans to appeal the verdict.
Preet Bharara, the US attorney who brought the case to court, said: “With today’s conviction, another link in a corrupt network has been broken.”
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