Expedia IT tech made $330K by secretly accessing execs’ files for insider trading
Lots of IT techs have access to network credentials to access company files and emails, but it wouldn’t cross the minds of most to abuse that knowledge for a “get-rich-scheme” in the flavor of insider trading. Yet that doesn’t apply to everyone, since a 28-year-old admitted to exploiting his position in order to gain insider knowledge and illegally trade and profit from those secrets.
Jonathan Ly, a former IT tech for Expedia, pleaded guilty to securities fraud – something FBI Special Agent in Charge Jay S. Tabb, Jr. called, “Particularly egregious because Mr. Ly abused his special access privileges as an IT administrator. On top of violating the trust of the public and his company, he violated the privacy of fellow employees by surreptitiously accessing their files.”
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