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Fremont Woman Arrested In Insider Trading Crackdown

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(CBS)

(CBS)

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FREMONT ( CBS/AP) — A Fremont woman arrested in a massive insider trading investigation will spend New Year’s behind bars.

Winifred Jiau, who was arrested Tuesday, has been ordered detained until a Monday bail hearing in federal court in San Francisco.

Authorities say Jiau tipped off two portfolio managers about the unannounced earnings of technology companies. She is facing securities fraud charges for accepting more than $200,000 from an expert networking firm that promises investors a “Global Advisory Team of Experts.”

Although the name of the firm hasn’t been released, the same language has been used to describe Mountain View-based consulting firm Primary Global Research.

Jiau’s arrest is the latest in a widening probe targeting those in the financial services industry who glean secrets from public companies and share them as research.

(© 2010 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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