Gaithersburg Family Accused of Insider Trading Bought Condo and Cars
April 7, 2011
Total Loss:
$2 Million
A Gaithersburg father and son reaped the benefits of $2.27 million in stock market profits during the last five years, buying a condominium and two cars and paying travel bills, loans and taxes, according to the FBI.
But the U.S. government submitted a request March 28 that would require Cheng Yi Liang, 57, and his son Andrew Liang, 25, to forfeit the condo and their family home and served a warrant March 29 for nine bank accounts tied to the stock market accounts, Alisa Finelli, a spokeswoman for the U.S. Department of Justice, said Tuesday.
Source:
Maryland Gazette
Posted in:
ACH and Wire Fraud