SACRAMENTO – Two Bay Area men have settled federal charges that they used information gleaned from their wives about Valley tech companies to profit illicitly in the stock market.
The Securities and Exchange Commission charged San Jose resident Ching Hwa Chen, 61, and Tyrone Hawk, 46, of Los Gatos with insider trading in separate and unrelated civil cases, according to complaints filed in the U.S. District Court for the Northern District of California on Monday. According to the SEC, both men traded on information they overheard listening to their wives’ business calls, reaping nearly $300,000 in total illicit gains.
