An engineering research associate at the Massachusetts Institute of Technology has been arrested on insider trading charges filed in New York.
Authorities said Wednesday that Fei Yan was charged with earning $120,000 in illegal profits from secrets stemming from two corporate mergers last year.
The 31-year-old Chinese citizen, arrested at his Cambridge, Massachusetts, home, was freed on $500,000 bail after appearing in Boston federal court. His assistant public defender did not immediately comment.
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Federal prosecutors in New York City say Yan got his illegal tips from his spouse, a lawyer at an international law firm.
Prosecutors say Yan's illegal trades came after he studied online how to avoid law enforcement detection. They say he read an article entitled: "Want to Commit Insider Trading? Here's How Not to Do It."