The U.S. Securities and Exchange Commission announced charges Friday against a Chinese investment manager and five brokerage account holders for allegedly reaping $56 million from insider trades in advance of the 2016 Comcast-DreamWorks merger.
According to the SEC, Shaohua (Michael) Yin amassed more than $56 million of DreamWorks stock in the U.S. brokerage accounts of five Chinese nationals, including his elderly parents. Named as defendants along with Yin are the account holders: Lizhao Su, Zhiqing Yin, Jun Qin, Yan Zhou and Bei Xie.
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