June 18, 2024

AndronETalksNews

AndronETalksNews

‘Greedy’ Netflix engineer and his pal are sentenced to prison for insider trading scheme

Daily Mail UK

A former Netflix engineer and his pal have been sentenced to prison over an insider trading conspiracy in which they used secret information about the company’s subscriber numbers to profit from stock trades.

Sung Mo Jun, 49, of Bellevue, Washington, was sentenced to two years in prison on Friday for masterminding the complex and long-running scheme that continued even after he left the company.

His buddy Junwoo Chon, 50, was sentenced to 14 months in prison and a $10,000 fine for his role, after prosecutors said he coordinated with Jun to execute trades and paid the Netflix engineer kickbacks.

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