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NorCal woman arrested in inside trade scheme

ABC7 Eyewitness News HD covering Los Angeles and Southern California.

December 29, 2010 12:12:05 AM PST
A woman from Fremont, Calif., was arrested in an alleged inside trade scheme on Tuesday, authorities said.Winifred Jiau, 43, was taken into custody at her home in part of a continuing crackdown on employees of research firms who fed inside information on publicly traded companies to hedge funds.

Jiau was charged with conspiracy to commit securities fraud.

According to authorities, she gave two portfolio managers at separate hedge funds information about upcoming earnings reports for Marvell Technology Group Ltd. and Nvidia Corp.

The government said she was paid more than $200,000 for early information about the two technology companies.