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Former Equifax executive charged with insider trading ahead of data breach

CNBC logo CNBC 2018-03-14 Liz Moyer
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A former Equifax executive faces insider trading charges by the Securities and Exchange Commission in connection with trades he made before the company announced a massive data breach last summer.

The SEC says Jun Ying, 42, who was to become the company's next chief information officer, used confidential information to exercise his vested Equifax stock options and then sell the shares before the company publicly reported a breach that affected more than 145 million people.

Because of the trades, Ying was able to avoid $117,000 in losses, the SEC said Wednesday.

He was the chief information officer of one of Equifax's business units and a leading candidate to take on the top CIO role at the company. The SEC says he was offered the global CIO job on September 15, 2017, which was also the day the company disclosed the data breach and the day on which the sitting CIO resigned.

Ying is not one of the three Equifax executives who attracted attention for disclosing stock sales just days before the breach was made public.

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