Advertisement

BRIEFLY

July 28, 1988

U.S. District Judge Richard Owen issued a preliminary injunction in New York that freezes the assets of Stephen Sui-Kuan Wang Jr., who is charged in a $19-million insider trading scheme along with a Taiwanese businessman. The injunction also prohibits the defendants from bringing any suit relating to the frozen assets outside the federal court in New York. Last month, the Securities and Exchange Commission charged that Fred Lee, the businessman, reaped about $19 million in illegal profits on inside information provided to him by Wang, who was an analyst at Morgan Stanley & Co. Lee allegedly paid Wang about $200,000 for the information.

Advertisement
Los Angeles Times Articles
|
|
|