Indonesian charged with insider trading<\/p>\n
NEW YORK (Reuter): A J.P. Morgan trainee was charged with
\ninsider trading Friday for allegedly trading in the securities of
\nthree companies based on confidential information he learned at
\nhis job, federal prosecutors said.<\/p>\n
Papers filed in U.S. District Court in New York named the
\ndefendant as Roy Handojo, 25, a citizen of Indonesia who has
\nlived in New York City since October 1996.<\/p>\n
A civil complaint filed by the Securities and Exchange
\nCommission in addition to the criminal complaint said Handojo
\nprofited by at least US$363,189 on the trades.<\/p>\n
If convicted of the criminal charges, he could face up to 10
\nyears in prison and a $1 million fine. Handojo was arraigned and
\nreleased on a $1 million personal recognizance bond, officials
\nsaid.<\/p>\n
Handojo was employed in the Financial Institutions, Government
\nand Real Estate Group at J.P. Morgan when he learned about client
\ncorporations that were the subject of acquisitions,including
\nBarnett Banks Inc., Signet Banking Corp. and ACC Consumer Finance
\nCorp.<\/p>\n
The complaint alleged that Handojo used the information to
\ntrade in securities in his own account before it was made public.<\/p>\n
It alleged he later sold the securities for a profit.<\/p>\n
J.P. Morgan said in a statement that Handojo had been
\nsuspended and it was cooperating with authorities.<\/p>\n
\"We take pride in Morgan's reputation as a highly ethical firm
\nand do not tolerate any abuse of the trust placed in us by
\nclients,\" the firm said. \"Any misappropriation of information is
\na serious violation of our rules, and the standard of integrity
\nthat is a hallmark of the firm.\"<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/indonesian-charged-with-insider-trading-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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