You may remember that over the past year or so, we have brought you ongoing commentary from the scandal that erupted in the months following nVidia’s ill-fated agreement with Microsoft to supply the graphics-processing unit for the Xbox.
Specifically, the Securities and Exchange Commission, the regulating body that has been investigating claims of insider trading over the past 18 months, has ruled that David Chang, a now very much former employee of nVidia, must pay $116,000 as a result of ill-gotten gains made “speculating” on the back of advanced knowledge of the deal.
The initial charges levied at Chang are criminal, and he’s been under house arrest ever since. In total,15 former nVidia staffers have been convicted of insider-trading and will be sentenced and/or fined in the coming weeks.
However, it is thought that all will escape jail terms, given that Chang - believed to be the ring-leader - escaped with a hefty fine.
Specifically, the Securities and Exchange Commission, the regulating body that has been investigating claims of insider trading over the past 18 months, has ruled that David Chang, a now very much former employee of nVidia, must pay $116,000 as a result of ill-gotten gains made “speculating” on the back of advanced knowledge of the deal.
The initial charges levied at Chang are criminal, and he’s been under house arrest ever since. In total,15 former nVidia staffers have been convicted of insider-trading and will be sentenced and/or fined in the coming weeks.
However, it is thought that all will escape jail terms, given that Chang - believed to be the ring-leader - escaped with a hefty fine.
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