- 2014
Defendant Lee worked in the San Francisco office of Leerink Swann LLC and gleaned sensitive nonpublic information about impending mergers and acquisitions from unsuspecting co-workers. He passed this info along to his longtime college friend, defendant Chen, who traded heavily on it. Both defendants were sentenced to 16 months in prison, with restitution and forfeiture to be considered later. Defendant Chen previously paid $610,099 in forfeiture, roughly the amount of his illicit profits.
