The SEC charged four technology company employees and two Primary Global Research employees with insider trading today.
Another person was sentenced to prison today in the insider trading case involving expert network firm Primary Global Research.
FORBES: Taiwan Semiconductor Manager Gets 18 Months In Prison For Passing Insider Info
Previously, criminal charges were filed against eight consultants and staff of Primary Global Research LLC, a California expert-network firm.
Primary Global Research links corporate executives and industry insiders with investment managers.
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Winifred Jiau (43), formerly a consultant to Primary Global Research, was found guilty today of passing along confidential information to hedge fund managers in exchange for payments.
FORBES: Winifred Jiau -- A Blow To Expert Networks and The Small Players
Former Primary Global Research salesman, James Fleishman (42), was sentenced to 30 months in prison by U.S. District Judge Jed Rakoff (Southern District of New York).
FORBES: Primary Global's James Fleishman Gets 30 Months in Prison
Those same wiretaps have been instrumental in leading to further arrests, including the arrest of Don Chu, a consultant at Primary Global Research, on securities fraud and conspiracy charges.
FORBES: The Galleon Net Widens -- Insider Trading or Witch Hunt?
In return for a more lenient sentence, Choo has reportedly been co-operating with authorities, and it was his relationship with Ching that ultimately led investigators to focus on Primary Global Research.
FORBES: Insider-Trading Arrest Reveals Web Of Backroom Dealing
Chu appears to be an employee of Primary Global Research, one of a number of firms that match up industry experts and hedge funds to exchange information about public companies.
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In the case of Don Chu, who worked at Primary Global Research, the government could not determine an amount of illegal profits and his sentence was two years of probation (no jail time).
FORBES: In Winifred Jiau Prison Sentence, What Is The Message For Wall Street?
James Fleishman, an executive at Primary Global Research, an expert-networking company based in California, was arrested this morning and charged with conspiring with the former tech company employees to provide private market-moving information to hedge funds.
FORBES: Tech Employees Allegedly Sold Secrets of Dell, Apple and Advanced Micro Devices
In early 2008, the Federal Bureau of Investigation and prosecutors in Manhattan also began investigating Primary Global Research LLC, an "expert-network" firm a company that arranges conversations between investment firms and employees at public companies who freelance as consultants.
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