On July 12, Fei Yan, a post-doctoral associate at a Cambridge, Massachusett university was arrested and charged with insider trading.  Yan allegedly traded in options to buy stock in Stillwater Mining Company based on nonpublic information regarding a corporate acquisition that he obtained from his spouse, a lawyer working on the acquisition for a private international law firm.  Yan’s internet search history reflected online research into how to commit insider trading while evading detection.  Yan was charged with two counts of securities fraud and one count of wire fraud; the securities fraud charges carry a maximum sentence of 20 and 25 years imprisonment and a maximum fine of $5 million and $250,000, respectively, or twice the gross gain or loss from the conduct, while the wire fraud charge is punishable by up to 20 years imprisonment and a fine of up to $250,000 or twice the gross gain or loss.  U.S. v. Yan, 17 MAG 5156 (S.D.N.Y.).

DOJ Press Release