Former Equifax Exec. Charged With Insider Trading

A former Equifax executive is facing insider trading charges for transactions made before the company announced a huge data breach.  

The Securities and Exchange Commission on Wednesday said confidential information was used by 42-year-old Jun Ying to exercise his vested company stocks options and then sell them before the breach was publicly revealed.

Ying avoided $117,000 in losses in the sale. 

In September 2017, Equifax announced that the personal information of more than 140 million Americans had been compromised in a massive data breach.

"Ying used confidential information to conclude that his company had suffered a massive data breach, and he dumped his stock before the news went public," said Richard Best, director of the SEC's Atlanta Regional Office, in a statement.

The SEC said its investigation is ongoing.

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