Sept. 21, 2020 By Christian Murray
A Flushing man has been charged with insider trading after using information he learned at his place of work to profit on stocks.
Yinghang Yang, 27, alongside an unnamed co-conspirator, made more than $900,000 based on information he obtained from his corporate employer. The defendant worked at a financial company that publishes stock market indices based on shares listed on U.S. stock exchanges.
Yang and his co-conspirator would buy call options on stocks that he knew were about to be added to a major index. The call options were bought using the co-conspirator’s brokerage account.