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SEC-EDGAR Filing Employees Charged for $1M Insider Trading Scheme
Two employees from EdgarAgents.com have been charged with insider trading after allegedly making over $1 million in illegal profits by using confidential corporate information.
Justin Chen, 31, and Jun Zhen, 29, were arrested on Friday night at the John F. Kennedy International Airport as they prepared to depart for Hong Kong. The FBI agents seized their electronic devices and other evidence related to the alleged scheme.
According to a federal complaint, Chen and Zhen used their positions at EdgarAgents.com to secretly gather non-public information about several companies, including Purple Innovation, Ondas Holdings, SigmaTron, and Signing Day Sports. They then traded on this information to make quick profits.
The authorities claim that between March and June 2025, the duo used secret merger information to buy stocks before the news was public. Chen and Zhen placed trades within minutes and hours of each other, indicating a coordinated scheme.
Chen served as an operator and assistant manager at EdgarAgents.com, while Zhen worked as a typeset manager and operator.
Source: coinpedia.org
