Ex- Qualcomm exec gets prison
San Diego federal prosecutors say a former Qualcomm Inc. executive has been sentenced to 18 months in prison and f ined $ 500,000 for insider trading.
Jing Wang was sentenced for profiting off the wireless technology company’s confidential information and covering up his crimes.
The former global business operations president pleaded guilty in July to charges of insider trading, money laundering and obstruction of justice.
Prosecutors say Wang made three trades based on insider information. One involved a purchase of stock in Atheros Communications Inc. before it was reported that Qualcomm would buy the company for $ 3.1 billion.