{"id":27541,"date":"2019-06-27T20:10:00","date_gmt":"2019-06-27T20:10:00","guid":{"rendered":"https:\/\/www.darkreading.com\/attacks-breaches\/former-equifax-cio-sentenced-to-prison-for-insider-trading\/d\/d-id\/1335078"},"modified":"2019-06-27T20:10:00","modified_gmt":"2019-06-27T20:10:00","slug":"former-equifax-cio-sentenced-to-prison-for-insider-trading","status":"publish","type":"post","link":"https:\/\/www.threatshub.org\/blog\/former-equifax-cio-sentenced-to-prison-for-insider-trading\/","title":{"rendered":"Former Equifax CIO Sentenced to Prison for Insider Trading"},"content":{"rendered":"<header>\n<\/header>\n<p><span class=\"strong black\">Jun Ying is the second Equifax employee found guilty of insider trading related to the massive 2017 data breach.<\/span> <\/p>\n<p class>Jun Ying, former chief information officer of Equifax US Information Solutions, has been sentenced to four months in federal prison and a year of supervised release for insider trading.<\/p>\n<p>In March 2018, the Securities and Exchange Commission (SEC) <a href=\"https:\/\/www.darkreading.com\/attacks-breaches\/sec-charges-former-equifax-exec-with-insider-trading\/d\/d-id\/1331272\" target=\"_blank\" rel=\"noopener noreferrer\">charged<\/a> Ying with insider trading ahead of Equifax&#8217;s disclosure of a massive data breach in September 2017. As an executive within a US business unit of Equifax, Ying was privy to sensitive information that led him to conclude the company had been breached in August 2017, weeks before the incident was made public.<\/p>\n<p>On Aug. 25, 2017, Ying messaged a colleague to warn Equifax may have been breached. A few days later he exercised all of his stock options and received 6,815 shares of Equifax stock, which he sold to receive proceeds of $950,000. He realized a gain of more than $480,000 \u2013 avoiding a loss of over $117,000. Equifax announced the breach on Sept. 7; its stock price fell.<\/p>\n<p>Ying, who was next in line to be Equifax&#8217;s global CIO, has also been ordered to pay restitution of $117,117.61 as well as a $55,000 fine. He was convicted of these charges on March 7, 2019.<\/p>\n<p>This is the second Equifax employee to be found guilty of insider trading related to the 2017 data breach. Sudhakar Reddy Bonthu, former Equifax manager, pleaded guilty in July 2018.<\/p>\n<p>&#8220;If company insiders don&#8217;t follow the rules that govern all investors, they will face the consequences for their actions,&#8221; said Chris Hacker, special agent in charge of FBI Atlanta, in a statement. &#8220;Otherwise the public&#8217;s trust in the stock market will erode.&#8221;<\/p>\n<p>Read more details <a href=\"https:\/\/www.justice.gov\/usao-ndga\/pr\/former-equifax-employee-sentenced-insider-trading\" target=\"_blank\" rel=\"noopener noreferrer\">here<\/a>.<\/p>\n<div readability=\"11.022222222222\">\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.blackhat.com\/images\/page-graphics-usa-19\/banners\/399219_BH_US19-Web-Banners_468x80-plain.png\" alt width=\"460\" height=\"70\"><\/p>\n<p><strong><em>&nbsp;<\/em><\/strong><\/p>\n<p><strong><em>Black Hat USA returns to Las Vegas with hands-on technical Trainings, cutting-edge Briefings, Arsenal open-source tool demonstrations, top-tier security solutions and service providers in the Business Hall.&nbsp;Click for information on the&nbsp;<a href=\"https:\/\/www.blackhat.com\/us-19\/\" target=\"_blank\" rel=\"noopener noreferrer\">conference<\/a>&nbsp;and&nbsp;<a href=\"https:\/\/blackhat.tech.ubm.com\/usa\/2019\/\" target=\"_blank\" rel=\"noopener noreferrer\">to register.<\/a><\/em><\/strong><\/p>\n<\/div>\n<p><span class=\"italic\">Dark Reading&#8217;s Quick Hits delivers a brief synopsis and summary of the significance of breaking news events. For more information from the original source of the news item, please follow the link provided in this article. <a href=\"https:\/\/www.darkreading.com\/author-bio.asp?author_id=2179\">View Full Bio<\/a><\/span> <\/p>\n<p><span class=\"smaller strong red allcaps\">More Insights<\/span><\/p>\n<p> Read More <a href=\"https:\/\/www.darkreading.com\/attacks-breaches\/former-equifax-cio-sentenced-to-prison-for-insider-trading\/d\/d-id\/1335078?_mc=rss_x_drr_edt_aud_dr_x_x-rss-simple\">HERE<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jun Ying is the second Equifax employee found guilty of insider trading related to the massive 2017 data breach. Read More <a href=\"https:\/\/www.darkreading.com\/attacks-breaches\/former-equifax-cio-sentenced-to-prison-for-insider-trading\/d\/d-id\/1335078?_mc=rss_x_drr_edt_aud_dr_x_x-rss-simple\">HERE<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","footnotes":""},"categories":[151],"tags":[],"class_list":["post-27541","post","type-post","status-publish","format-standard","hentry","category-darkreading-ti"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Former Equifax CIO Sentenced to Prison for Insider Trading 2026 | ThreatsHub Cybersecurity News<\/title>\n<meta name=\"description\" content=\"ThreatsHub Cybersecurity News | ThreatsHub.org | Cloud Security &amp; Cyber Threats Analysis Hub. 100% Free OSINT Threat Intelligent and Cybersecurity 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