Ex-executive charged in NY with insider trading
NEW YORK (AP) — A California man who worked for a semiconductor company has been arrested on insider trading charges in a New York probe of expert networking firms that provide an avenue for inside information to reach hedge funds.
Stanley Ng (eeng) was arrested Wednesday at his home in Cupertino, Calif. He was charged with one count of conspiracy to commit securities fraud and wire fraud.
Authorities say Ng was working at Santa Clara, Calif.-based Marvell Technology Group Ltd. as its manager responsible for ensuring federal securities laws were followed when crimes were committed.
U.S. Attorney Preet Bharara (bah-RAH'-rah) says Ng and others traded inside information as casually as some people trade baseball cards.
A message left with Ng's lawyer hasn't been returned.
Marvell isn't accused of any crime.