U.S. Attorney Byung J. “BJay” Pak said Ying was taking advantage of his position and the trust of the public when he sold his shares.
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“Ying thought of his own financial gain before the millions of people exposed in this data breach even knew they were victims,” Pak said. “He abused the trust placed in him and the senior position he held to profit from inside information.”
Ying was the second Equifax employee to be found guilty of insider trading. Former software development manager Sudhakar Reddy Bonthu used his knowledge of the breach to make more than $75,000 off security trades.
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The consumer reporting agency was the victim of the breach in summer 2017. The hackers acquired names, birth dates, Social Security numbers and addresses of more than 145 million Americans.