Two New York men are accused of making more than $900,000 trading on information about index changes before it was released to the public
Yinghang “James” Yang, a senior index manager, and his friend, Yuanbiao Chen, a manager at a sushi restaurant, were accused of running the scheme for several months last year, according to documents filed in Brooklyn federal court. Mr. Yang was charged with securities fraud and has been arrested.
PREVIEWSUBSCRIBE The two Queens men stopped in October 2019 after Mr. Chen’s brokerage firm asked some questions about his occupation and sources of money, according to a complaint filed by the Securities and Exchange Commission against the two men.
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