Chinese Trader Relied On Inside Info, SEC Tells Jury

Law360, Chicago (January 6, 2014, 7:15 PM EST) -- A Chinese investment adviser reaped more than $8 million in illicit gains for himself and investors by trading on inside knowledge about the management-led buyout of pork processor Zhongpin Inc., the U.S. Securities and Exchange Commission told an Illinois federal jury on Monday.

The impeccable timing of Siming Yang’s trades and the deception he used afterward to cover his tracks together lead to the conclusion that Yang knew something the rest of the market didn’t, SEC attorney Tim Leiman said during his opening statement at Yang’s...
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