Former Equifax executive gets 4 months for insider trading
ATLANTA (AP) — Federal prosecutors say a former Equifax executive who sold stock shortly before the company announced a massive data breach has been sentenced in Atlanta to four months in federal prison for insider trading.
Jun Ying is former chief information officer of Equifax’s U.S. Information Solutions. He pleaded guilty in March and was sentenced Thursday.
His prison time is to be followed by a year of supervised release. He was also ordered to pay about $117,000 in restitution and was fined $55,000.
Prosecutors say Ying exercised his available stock options and sold his Equifax stock after receiving information in late August 2017 that caused him to realize Equifax was the victim of a breach.
Equifax stock plunged after the Atlanta-based credit reporting company disclosed the breach on Sept. 7, 2017.