Insider Trading Probe Target Jiau Sent to Jail Due to Risk of Flight

Former Primary Global Research LLC consultant Winifred Jiau, who has been charged with insider trading, has been ordered held without bail after prosecutors said that it was unmistakably clear she would flee if bail was allowed. Prosecutors said Jiau was recorded in conversations with Terry Peng and indicated her intentions of leaving the United States. Prosecutors also said they found assets whicj Jiau failed to disclose and that she had instructed Peng to enter her apartment to take possession of $20,000 in cash she was hiding in her bedroom. The Government says that Jiau passed inside info to hedge fund managers and Noah Freeman the Boston hedge fund manager who pleaded guilty to securities fraud. She may be one of many who spend years in prison for passing or using inside, confidential information about companies to make stock trades. Today Rajat Gupta was charged with insider trading by the SEC. He is a former board member of Goldman Sachs.