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 Rights violation: Former Microsoft manager gets two years for insider trading

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Rights violation: Former Microsoft manager gets two years for insider trading Vide
PostSubject: Rights violation: Former Microsoft manager gets two years for insider trading   Rights violation: Former Microsoft manager gets two years for insider trading Icon_minitimeSun Aug 10, 2014 7:31 pm
Former Microsoft senior manager Brian Jorgenson was sentenced to two years in prison for insider trading that reaped $400,000 in profit using nonpublic information about the software maker's quarterly earnings and its investment in Barnes & Noble, the US said.

A manager in Microsoft's corporate finance and investment division earning a six-figure salary, Jorgenson, 32, was privy to confidential information about planned acquisitions when he tipped friend Sean Stokke about the Barnes & Noble investment in 2012, prosecutors said.

The two used Jorgenson's access to confidential information twice more in 2013, placing bets before Microsoft's quarterly earnings announcements, before they were stopped by law enforcement. The pair tried to hide their moves with disposable "burner phones" and by passing payouts in $10,000 cash increments, the Securities and Exchange Commission said in a related lawsuit.

http://www.smh.com.au/business/world-business/former-microsoft-manager-gets-two-years-for-insider-trading-20140809-1027id.html
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