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Microsoft senior manager Brian Jorgenson charged with insider trading

McGruber (1417641) writes | about 10 months ago

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McGruber (1417641) writes "On Thursday, federal prosecutors unsealed a complaint charging Microsoft senior manager Brian Jorgenson and another man, Sean Stokke, each with 35 felony counts of insider trading, alleging they made nearly $400,000 through a series of transactions based on insider information passed to Stokke by Jorgenson. At the same time, the Securities and Exchange Commission filed a civil lawsuit asking they forfeit those profits.

Jorgenson told The Seattle Times that he tipped a friend to nonpublic, proprietary Microsoft financial information three times in the past 18 months, allowing them to make money in the stock market. He estimated his friend made more than $200,000, although Jorgenson said it is hard to say exactly how much money was made since he didn’t have direct access to his friend’s trading accounts. In exchange, Jorgenson said his friend gave him about $40,000.

Jorgenson worked at Microsoft for three years as a $130,000-a-year senior manager in the company’s Treasury Group before he was fired when the trading scheme was uncovered last month."

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