Silicon Valley IT Administrator and Friends Charged in Insider Trading Ring
The allegation:> ..A former IT administrator then at Palo Alto Networks Inc., was at the center of the trading ring, using his IT credentials and work contacts to obtain highly confidential information about his employer’s quarterly earnings and financial performance.How they were caught:> This case highlights [SEC's] use of enhanced data analysis tools to spot suspicious trading patterns and identify the traders behind them.Total estimated profit from this scheme, between 2015~17:> Defendants’ trades in advance of the announcement generated profits that exceeded $3 million.EDIT: Oops, I found this line from the same source: "At the peak of their scheme in 2017, [the defendants] achieved more than $7 million in illegal trading profits."(Source: https://www.sec.gov/litigation/complaints/2019/comp-pr2019-2...)