Ex-Microsoft official charged with insider trading

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SEC--ABC

Reuters.

A sign for the Securities and Exchange Commission (SEC).

San Francisco - US Federal authorities filed insider trading charges Thursday against a former senior Microsoft manager, accusing him and an accomplice of profiting almost 400,000 dollars by trading on confidential information about the software giant.

The charges were unveiled by the US Attorney's office in Washington and the Securities and Exchange Commission.

The claimed that Microsoft portfolio manager Brian Jorgenson tipped off his friend Sean Stokker about upcoming announcements, including quarterly earnings reports in July and October 2013.

The two face civil charges as well as up to 20 years in jail.

Microsoft said it fired Jorgenson once the insider trading was discovered. - Sapa-dpa


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