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A former Equifax executive has been charged with insider trading for selling shares ahead of the company's massive data breach

Joe CiolliMar 14, 2018, 20:15 IST

Options traders are betting that Equifax's stock will drop further following last week's announcement of a security breach.Reuters / Brendan McDermid

Jun Ying, a former Equifax employee who was at one point next in line to be the company's global chief investment officer, has been charged with insider trading by the US Securities and Exchange Commission.

The SEC alleges Ying possessed confidential information about Equifax's massive data breach in September 2017 before he exercised all of his vested Equifax stock options and then sold the shares, making roughly $1 million.

This story is developing.

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A former Equifax executive has been charged with insider trading for selling shares ahead of the company's massive data breach

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