Funds Frozen In Seattle Genetics Insider Trading Case

Law360, New York (January 21, 2011, 1:55 PM EST) -- A federal judge has barred a manager at Seattle Genetics Inc. and two relatives accused by the U.S. Securities and Exchange Commission of an $803,000 insider trading scheme from transferring money from a brokerage account linked to the scheme.

Judge Marsha J. Pechman of the U.S. District Court for the Western District of Washington on Wednesday signed the temporary restraining order, which the SEC claimed was necessary in order to prevent ill-gotten gains from being sent to bank accounts in China, and ordered Zizhong Fan, the...
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