Latest news with #JustinChen
Bloomberg
05-07-2025
- Business
- Bloomberg
Friends Accused of Trading on Data for Edgar Face Widening Probe
The FBI had to move fast when agents learned that two men who were the focus on an insider trading investigation were about to get on a flight to Hong Kong. Before they could board the early morning June 28 flight, federal agents arrested Justin Chen, 31, and Jun Zhen, 29. Prosecutors say they pocketed at least $1 million by taking information they learned from their job at a private company that formats materials before they are submitted to the Securities and Exchange Commission 's Edgar filing system.
Yahoo
28-06-2025
- Business
- Yahoo
Two Workers for SEC's EDGAR System Charged With Insider Trading
(Bloomberg) -- Two men who worked for the Securities and Exchange Commission's EDGAR public filing system were charged with insider trading after allegedly pocketing $1 million by stealing non-public information obtained through their jobs. Philadelphia Transit System Votes to Cut Service by 45%, Hike Fares US Renters Face Storm of Rising Costs Squeezed by Crowds, the Roads of Central Park Are Being Reimagined Sprawl Is Still Not the Answer Mapping the Architectural History of New York's Chinatown Justin Chen and Jun Zhen, both of Brooklyn, New York, were charged in a federal complaint with obtaining material, non-public information about companies like Purple Innovation Inc., Ondas Holdings Inc., SigmaTron International Inc., and Signing Day Sports Inc. through their work at EDGAR, according to Brooklyn US Attorney Joseph Nocella. Prosecutors say that between March and June 2025 the pair engaged in a scheme to obtain information about these companies, which announced they had entered into merger agreements or partnerships 'that resulted in significant increases in the share price of each company's stock.' Chen, 31, and Zhen, 29, purchased shares in the companies before the announcements, 'and sold those shares at a significant profit immediately after the announcement,' according to a complaint filed in federal court in Brooklyn. 'In total, Chen and Zhen have made a profit of more than $1 million from their trading.' Agents with the Federal Bureau of Investigation arrested Chen and Zhen Friday night at John F. Kennedy International Airport as they were planning to board a flight to Hong Kong, said John Marzulli, a spokesman for Nocella. Chen worked as an EDGAR operator and assistant manager while Zhen worked as an EDGAR operator and typeset manager, prosecutors said. The two had access to the company announcements before they were filed. Both men are charged with securities fraud, which carries a prison term of as long as 25 years, prosecutors said. Chen and Zhen made their initial court appearances in federal court in Brooklyn on Saturday before US Magistrate Judge Vera Scanlon, who ordered them held without bail. Chris Wright, a lawyer for Zhen, and Charles Millioen, a lawyer for Chen, didn't immediately return email messages seeking comment about their clients. America's Top Consumer-Sentiment Economist Is Worried How to Steal a House Inside Gap's Last-Ditch, Tariff-Addled Turnaround Push Apple Test-Drives Big-Screen Movie Strategy With F1 Luxury Counterfeiters Keep Outsmarting the Makers of $10,000 Handbags ©2025 Bloomberg L.P. Sign in to access your portfolio
Yahoo
28-06-2025
- Business
- Yahoo
Two Workers for SEC's EDGAR System Charged With Insider Trading
(Bloomberg) -- Two men who worked for the Securities and Exchange Commission's EDGAR public filing system were charged with insider trading after allegedly pocketing $1 million by stealing non-public information obtained through their jobs. Philadelphia Transit System Votes to Cut Service by 45%, Hike Fares US Renters Face Storm of Rising Costs Squeezed by Crowds, the Roads of Central Park Are Being Reimagined Sprawl Is Still Not the Answer Mapping the Architectural History of New York's Chinatown Justin Chen and Jun Zhen, both of Brooklyn, New York, were charged in a federal complaint with obtaining material, non-public information about companies like Purple Innovation Inc., Ondas Holdings Inc., SigmaTron International Inc., and Signing Day Sports Inc. through their work at EDGAR, according to Brooklyn US Attorney Joseph Nocella. Prosecutors say that between March and June 2025 the pair engaged in a scheme to obtain information about these companies, which announced they had entered into merger agreements or partnerships 'that resulted in significant increases in the share price of each company's stock.' Chen, 31, and Zhen, 29, purchased shares in the companies before the announcements, 'and sold those shares at a significant profit immediately after the announcement,' according to a complaint filed in federal court in Brooklyn. 'In total, Chen and Zhen have made a profit of more than $1 million from their trading.' Agents with the Federal Bureau of Investigation arrested Chen and Zhen Friday night at John F. Kennedy International Airport as they were planning to board a flight to Hong Kong, said John Marzulli, a spokesman for Nocella. Chen worked as an EDGAR operator and assistant manager while Zhen worked as an EDGAR operator and typeset manager, prosecutors said. The two had access to the company announcements before they were filed. Both men are charged with securities fraud, which carries a prison term of as long as 25 years, prosecutors said. Chen and Zhen made their initial court appearances in federal court in Brooklyn on Saturday before US Magistrate Judge Vera Scanlon, who ordered them held without bail. Chris Wright, a lawyer for Zhen, and Charles Millioen, a lawyer for Chen, didn't immediately return email messages seeking comment about their clients. America's Top Consumer-Sentiment Economist Is Worried How to Steal a House Inside Gap's Last-Ditch, Tariff-Addled Turnaround Push Apple Test-Drives Big-Screen Movie Strategy With F1 Luxury Counterfeiters Keep Outsmarting the Makers of $10,000 Handbags ©2025 Bloomberg L.P. 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
Bloomberg
28-06-2025
- Business
- Bloomberg
Two Workers for SEC's EDGAR System Charged with Insider Trading
Two men who worked for the Securities and Exchange Commission 's EDGAR public filing system were charged with insider trading after allegedly pocketing $1 million by stealing non-public information obtained through their jobs. Justin Chen and Jun Zhen, both of Brooklyn, New York, were charged in a federal complaint with obtaining material, non-public information about companies like Purple Innovation Inc., Ondas Holdings Inc., SigmaTron International Inc., and Signing Day Sports Inc. through their work at EDGAR, according to Brooklyn US Attorney Joseph Nocella.
Yahoo
26-03-2025
- Politics
- Yahoo
Dallas EPA workers rally against Trump's reduction in workforce
The Brief A group of EPA employees rallied in Dallas against the job cuts for federal agencies and the EPA workforce. Union President, Justin Chen, raised concerns about the elimination of several positions. Chen says the reductions may hurt the response to disasters. DALLAS - A group of Environmental Protection Agency employees based in Dallas rallied outside their offices on Tuesday to protest the Trump administration's decision to downsize the EPA. What we know EPA workers rallied outside their offices downtown, located in the Renaissance Tower, to fight for the 600-person North Texas workforce made up of biologists, engineers, chemists, lab technicians, scientists, and more who work to ensure that Americans across the country have access to clean air and drinking water. Dozens of probationary employees have already been fired or placed on administrative leave, according to union leaders. The eight-city march and rally come as the Trump administration has made moves to dismantle the federal agency and lay off EPA workers nationwide. What they're saying "Per the executive order, our agency was required to give a reduction in forces plans. We haven't seen them yet, but our expectation is those kinds of actions are coming soon," said Justin Chen, the president of the local American Federation of Government Employees. Chen said local environmental justice positions have been eliminated. "That kind of money is no longer flowing into communities in North Texas and that's a concern." he claims. Chen states that employees who work in low-income communities like Joppa in South Dallas facilitate federal grants that help to monitor air and water quality. He references natural disasters such as the Los Angeles wildfires and Hurricane Helene in North Carolina, to support how the EPA also plays a crucial role in responding to climate disasters. "To help the public make sure they're able to basically able to return back to their homes and start rebuilding again," said Chen. Why you should care The union president says people should also be concerned about a reduction in staff in research and development, since those workers monitor the amount of chemicals and contaminants that end up in our bodies. "We need to have office of research and development in order to determine what is actually safe in exposure to all of us," said Chen. He says the layoffs also mean that federal inspectors will not be readily available to make sure companies are accountable for the pollution they generate. The Source Information of this article comes from the EPA Workers National Day of Action in Dallas.
