Justin Chen and Jun Zhen, both from Brooklyn, were arrested at JFK Airport on June 28 for securities fraud charges. Allegedly, they profited over $1 million by trading on insider information sourced from Edgar Agents, a company handling SEC paperwork. The two men were in the process of boarding a flight to Hong Kong when arrested. A judge denied them bail. The investigation is currently ongoing, focusing on the misuse of client filing information that occurred between March and June this year.
Chen and Zhen allegedly made over $1 million by trading on non-public merger data from Edgar Agents, a company that helps businesses with SEC paperwork.
The two men were arrested at JFK Airport and charged with securities fraud, and a judge ordered them to be held without bail.
An investigation into their activities is ongoing, focusing on exploitation of client filing information between March and June of this year.
The duo was attempting to board a flight to Hong Kong at the time of their arrest.
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