Former Equifax Exec Who Sold Stock After Inside Knowledge of Data Breach Gets 4 Months in Prison
The Associated Press is reporting that a former Equifax executive who sold stock a week and a half before the company announced a massive data breach was sentenced Thursday to serve four months in federal prison for insider trading.
Jun Ying is the former chief information officer of Equifax’s U.S. Information Solutions. His prison time is to be followed by a year of supervised release, and he was also ordered to pay about $117,000 in restitution and a $55,000 fine, the U.S. attorney’s office in Atlanta said in a news release.
“The SEC has said that at the time of the breach, Ying was often entrusted with nonpublic company information,” according to the AP. “He was a leading candidate to become the global chief information officer of Equifax, a job he was offered on Sept. 15, 2017, the same day the company announced then-CIO Dave Webb would retire.”
