Ex- Qual­comm exec gets prison

Los Angeles Times - - HIGHWAY 1 -

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.

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