Former engineer and Netflix accomplice sentenced to prison for insider trading – .

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Former engineer and Netflix accomplice sentenced to prison for insider trading – .


Their roles in an insider trading network have illegally generated more than $ 3 million, US attorney Nick Brown said.

Sung Mo Jun, 49, was sentenced to two years in prison and a $ 15,000 fine. His co-conspirator Junwoo Chon, 50, was sentenced to 14 months in prison and a $ 10,000 fine. The two are from Bellevue, Washington and pleaded guilty in August. CNN has contacted attorneys for Jun and Chon for comment.

“For people in the high tech industry, they will clearly know that there are consequences – including jail time – for this activity,” said US District Judge Richard A. Jones.

Insider trading is the buying or selling of a company’s securities with information that is not publicly available. It is illegal in the United States.

Brown, the US attorney, said in a press release that the two were financially secure and had well-paying jobs, but “greed drove them to break the law to increase their own wealth.”
According to records, Jun worked at Netflix from July 2016 to February 2017, during which time he shared confidential subscriber data with his brother, Joon Jun, and with Chon.

After leaving Netflix, Sung Mo Jun continued to share information and began trading himself using data received from another Netflix software engineer, Ayden Lee, according to the records.

Jun loses $ 495,188 to the US government and Chon loses $ 1,582,885. Both must do 50 hours of community service and will benefit from one year of supervised release after their release from prison.

“What I did was stupid, wrong, illegal… I have no excuse. I disappointed a lot of people, ”Sung Mo Jun told the court when he was sentenced.

The other two conspirators, Joon Jun and Lee, will be sentenced next year.

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