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Arrest In Insider Trading Inquiry – Winifred Jiau

The latest arrest in the insider trading probe came yesterday. Winifred Jiau, 43, of Freemont, CA was arrested yesterday on charges related to her involvement in an insider trading scheme. Federal authorities say between 2006 and 2008, Jiau obtained inside information about multiple publicly traded companies, including Marvell Technology Group  (MRVL) and Nvidia (NVDA),  and sold that information to portfolio managers at hedge funds (Incidentally, Lee Ainslie currently has nearly $400 million of Marvell stock in his portfolio). Those managers then traded on that information. The funds paid Ms. Jiau over $200,000 for the information.

Marvell Technology Group Ltd.

Federal authorities say for example, Ms. Jiau provided Marvell’s quarterly revenues, gross margins and earnings per share on two different occasions to a hedge fund. Jiau was recorded saying she had received the inside information from a Marvell employee. The hedge fund traded on the information and profited by more than $800,000. Read more here.

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