Sung Mo Jun also obtained insider information from a “tipper” he knew at another tech company, and shared this information with his brother and Chon. Their profits from trading on that inside information was less than $2,000.
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At times, Wygovsky personally conducted the trading on behalf of both the Employer Firm and the Subject Accounts. For example, on occasion, IP log-ins from the Subject Accounts show the Subject Accounts were being accessed from locations where Wygovsky was travelling. On other occasions, Wygovsky would cause others to execute the timely, profitable trading in the Subject Accounts. Over an approximately five-year period, Wygovsky caused the Subject Accounts to engage in more than 700 such short-term timely, profitable trades, resulting in at least over $3.6 million of profits in the Subject Accounts.
Read moreIn one instance, a test filing for “Public Company 1” was uploaded to the EDGAR servers at 3:32 p.m. (EDT) on May 19, 2016. Six minutes later, the defendants stole the test filing and uploaded a copy to the Lithuania server.
Read moreIn addition to trading on the information himself, Little also provided the information to Andrew Berke, his business associate and friend, who also traded on it and made hundreds of thousands of dollars in illegal gains as well.
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