Two Workers at Filing Agent to SEC Edgar Get Insider Charges

Finance·Securities and Exchange CommissionTwo Workers at Filing Agent to SEC Edgar Get Insider ChargesBY Patricia HurtadoBY BloombergBY Patricia HurtadoBY BloombergThe Securities and Exchange Commission headquarters in Washington, DC

Justin Chen and Jun Zhen, both of Brooklyn, New York, were charged with obtaining non-public information companies Purple Innovation Inc. , Ondas Holdings Inc. , SigmaTron International Inc. , and Signing Day Sports Inc

Through their work, according to Brooklyn US Attorney Joseph Nocella

Secutors say that between March and June 2025 the pair engaged in a scheme to obtain information the companies, which announced they had entered into merger agreements “that resulted in significant increases in the price of each company’s stock. ” Chen, 31, and Zhen, 29, made purchases before the announcements “and sold those s at a significant fit immediately after the announcement,” according to a criminal complaint in federal court in Brooklyn. “In total, Chen and Zhen have made a fit of more than $1 million from their trading. ” Agents with the Federal Bureau of Investigation arrested Chen and Zhen Friday night at John F

Kennedy International Airport as they were planning to board a flight to Hong Kong, said John Marzulli, a spokesman for Nocella

Agents with the Federal Bureau of Investigation arrested Chen and Zhen Friday night at John F

Kennedy International Airport as they were planning to board a flight to Hong Kong, according to John Marzulli, a spokesman for Nocella

Chris Wright, a lawyer for Zhen, and Charles Millioen, a lawyer for Chen, didn’t immediately return messages seeking their clients

Chen worked as an operator and assistant manager at EdgarAgents

Com while Zhen worked as an operator and typeset manager, secutors said

The two had access to the company announcements before they were filed

Secutors said the pair conducted many of their trades “within hours” and “sometimes minutes” of each other suggesting, they were coordinating their trading, according to the US

Com was not accused of wrongdoing and an sent to the company after hours wasn’t immediately returned

Both men are charged with securities fraud, which carries a prison term of as long as 25 years, secutors said

Chen and Zhen made their initial court appearances in federal court in Brooklyn on Saturday before US Magistrate Judge Vera Scanlon, who ordered them held without bail. (This story was d on July 1 to add new details from filing

Explore this year's list.