SEC alleges insider trading at San Francisco fund

The Securities and Exchange Commission accused Chen Tang, the former chief financial officer of a private-equity firm in San Francisco, with insider trading in a civil suit. "As the CFO of a private equity firm, Tang was entrusted with highly confidential and material information, and he violated that trust by misusing the information to generate enormous illegal profits," Rose Romero, who heads the SEC's Forth Worth, Texas, office, said. Tang is accused of passing insider information to five people, including his brother.

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