Insider Trading Suspect Jiau to Remain in Custody Over Weekend
Dec. 31 (Bloomberg) — Former Primary Global Research LLC expert networking consultant Winifred Jiau, arrested in a Justice Department insider trading probe, must wait until Jan. 3 to renew her bid for bail, a federal magistrate judge said.
U.S. Magistrate Judge Nandor Vadas in San Francisco decided after granting Jiau $250,000 bail yesterday that she must remain in custody because her surety failed to appear in court.
Jiau, arrested Dec. 28 in Fremont, California, was accused of selling data on Nvidia Corp. and Marvell Technology Group Ltd., makers of computer components, to portfolio managers at three unidentified hedge funds through Primary Global, according to a filing in Manhattan federal court. The hedge funds paid Jiau $200,000 through the networking firm, prosecutors said.
By Pamela Maclean