{"id":902,"date":"2011-06-23T23:11:08","date_gmt":"2011-06-23T23:11:08","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2011\/06\/poohster_consultant_found_guil"},"modified":"2021-11-12T13:07:56","modified_gmt":"2021-11-12T19:07:56","slug":"poohster-consultant-found-guil","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/poohster-consultant-found-guil\/","title":{"rendered":"\u201cPoohster\u201d Consultant Found Guilty of Insider Trading"},"content":{"rendered":"

\t\t\t\tWinifred Jiau, a Fremont, California consultant, has been convicted of insider trading <\/a>and conspiracy. The network consultant was accused of selling technology company secrets to hedge fund traders for hundreds of thousands of dollars. The trial against Jiau was the first one involving an expert network firm. Primary Global Research in Mountain View employed her.<\/p>\n

Expert networks reportedly connect hedge fund mangers and “consultants,” who are usually insiders at publicly traded companies, for a price. At least seven people linked to PGR have been charged with insider trading crimes. <\/p>\n

According to Manhattan US Attorney Preet Bharara, Winnie Jiau exploited friends at public companies so she could get and then sell insider information. Noah Freeman, the government’s central witness and an ex- SAC Capital Advisors hedge fund portfolio manager who has pleaded guilty to his involvement, testified that she gave him illegal stock tips. He says that not only did he and his co-conspirators pay her $120,000 annually, but also she expected them to give her presents, which included iPhones, gift certificates, and lobsters. Those who paid her off received reaped substantial rewards. One hedge fund manager says that the tips he received were usually more “accurate” and “detailed” than any source and that the insider information allowed him to make $5 million to $10 million.<\/p>\n

Some of Jiau’s hedge fund clients reportedly called her “the Poohster” after Winnie the Pooh, the fictitious bear that is always looking for a honey pot. Also, she reportedly used the code word “sugar” in emails and instant messages to refer to her payoffs. She called her tipsters “cooks” and her tips “recipes.”<\/p>\n

Related Web Resources: <\/strong>
\nExpert Network Consultant is Convicted in Insider Trading Case<\/a>, NY Times, June 20, 2011
\nBay Area inside trader, Winifred Jiau, convicted<\/a>, SF Gate, June 21, 2011 <\/p>\n


\nMore Blog Posts:<\/strong>
\nDay Trader Pleads Guilty to Securities Fraud Charges Related to Insider Trading Scam<\/a>, Stockbroker Fraud Blog, May 25, 2011
\nMotion to Dismiss SEC Lawsuit Accusing Dallas Billionaire Brothers of $500,000 Securities Fraud Denied<\/a>, Stockbroker Fraud Blog, April 1, 2011
\nGuilty Plea for Financial Adviser Who Used UBS Tips in $1M Healthcare Insider Trading Scheme<\/a>, Stockbroker fraud Blog, January 28, 2011 Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Winifred Jiau, a Fremont, California consultant, has been convicted of insider trading and conspiracy. The network consultant was accused of selling technology company secrets to hedge fund traders for hundreds of thousands of dollars. The trial against Jiau was the first one involving an expert network firm. Primary Global Research in Mountain View employed her. 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