NEW YORK: The first strike in a new federal offensive to root out insider trading on Wall Street came Wednesday with the arrest of a consulting firm executive who prosecutors said tipped off a hedge fund manager about corporate earnings before they became public.
The arrest of Don Ching Trang Chu of Somerset, New Jersey, came when investigators realized he was heading to Taiwan on Sunday. He made the trip frequently, but authorities were apparently concerned that he was traveling ahead of what are expected to be multiple arrests in the probe and after he had been interviewed by FBI agents on Sunday.
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