Copyright Bloomberg
A Brooklyn man who worked for a private business that provides services for companies filing to the Securities and Exchange Commission’s Edgar system, pleaded guilty to using confidential client information to make trades that led to more than $2.2 million in illicit profits. Justin Chen, 31, pleaded guilty Wednesday to one count of conspiracy to commit insider trading for taking non-public information about at least 11 publicly traded stocks, including Purple Innovation Inc., Ondas Holdings Inc., SigmaTron International Inc., and Signing Day Sports Inc. He faces as much as 46 months in prison.
