⏱ 2 min read
Zhi Ge, a Singapore resident, is accused of running an insider trading scheme that raked in millions. From 2016 to 2024, Ge allegedly conspired with others to obtain confidential information about publicly traded companies, using it to trade securities and reap massive profits. The scheme, which played out in Boston, has now been busted, with the feds seizing $1.4 million in proceeds. Ge’s alleged co-conspirators are still unknown, but the investigation is ongoing.
The civil complaint, filed by the United States Attorney’s Office, claims that Ge used the confidential information to buy and sell call option contracts, making a killing in the process. The $1.4 million seized is just a fraction of the total haul, but it’s a significant blow to Ge’s alleged operation. The feds are now working to recover the rest of the ill-gotten gains.
The investigation, led by the FBI’s Boston Field Office, has been underway for years. It’s a complex case, involving multiple players and a web of deceit. But with the seizure of $1.4 million, the feds are sending a clear message: insider trading won’t be tolerated. Ge is presumed innocent until proven guilty, but the evidence against him is mounting.
The case is being prosecuted by Assistant U.S. Attorneys Matthew M. Lyons and Timothy E. Moran. The United States Attorney’s Office is committed to rooting out white-collar crime, and this case is just the latest example. With the help of the FBI and other agencies, the feds are working to keep the financial markets safe and fair for everyone.
📋 Key Facts
- Crime: White Collar Crime
- Defendant: Massachusetts
- Location: MA
- Source: DOJ Press Release
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