Latest in Gear

Image credit: Alamy

Insider trader caught because he googled how to commit fraud

Here’s a tip: don’t google how to commit a crime while committing that crime.
1479 Shares
Share
Tweet
Share
Save

Sponsored Links

Alamy

Look, we don't want to tell you how to commit crimes, but we do know that Googling how to commit said crime isn't a smart starting point. It's a lesson the Department of Justice wants you to learn, after arresting a person on suspicion of insider trading who looked up how to do so online.

The story begins with Fei Yan, a post-doctoral researcher at a "major university" in Cambridge, Mass., which we could guess at being MIT or Harvard. Yan's spouse was a lawyer at a major law firm, who was working on a deal related to the purchase of Stillwater Mining Company.

Somehow, Yan got wind of the deal and decided to try to make some cash with the insider information he'd seen. The figure, over a period of several days, bought the better part of 500 shares in the company, which eventually netted him a profit close to $110,000.

But after a large purchase on December 6th, 2016, Yan began Googling phrases related to insider trading, such as "how sec detect unusual trade." Subsequent searches included looking for phrases "insider trading with international account," and read a website telling users how not to commit the crime.

Here's the thing, kids, if you're going to be dumb enough to look for tutorials on how to commit crimes, just remember about incognito mode, okay?

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Comment
Comments
Share
1479 Shares
Share
Tweet
Share
Save

Popular on Engadget

The best consoles, games and accessories for students

The best consoles, games and accessories for students

View
A first look at Disney+

A first look at Disney+

View
Disney+ confirms 'Ms. Marvel,' 'She-Hulk' TV shows in the works

Disney+ confirms 'Ms. Marvel,' 'She-Hulk' TV shows in the works

View
US book publishers sue Audible over AI-powered transcription

US book publishers sue Audible over AI-powered transcription

View
Netflix test brings human-curated 'Collections' to streaming

Netflix test brings human-curated 'Collections' to streaming

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr