This is doubly ridiculous. As CIO he ought to be held accountable for the loss of millions of people's personal data. Instead, he gets what amounts to a slap on the wrist for insider trading.
I worked for him when this happened - he was a smart guy who happened to guess right. He hadn’t been informed of the breach when he traded his options, he just make an educated guess based upon things happening. I don’t think it was right, but it definitely wasn’t malicious. The company could have closed the trading window which would have prevented it.
The worst thing for him is that he would have been made the global CIO if he hadn’t cashed in his options. The money in this transaction is peanuts compared to what he lost there.
Edited: app was NOT in his dept
> On Friday, August 25, 2017, Ying texted a co-worker that the breach they were working on “sounds bad. We may be the one breached.” The following Monday, Ying conducted web searches on the impact of Experian's 2015 data breach on its stock price. Later that morning, Ying exercised all of his stock options[.]
You'll even find a large number of comments here defending the sentencing saying 'but he will lose his job'. As if that doesn't happen to everyone else convicted of crime.
It does not, in fact, happen to everyone else convicted of a crime.
Serious question. I might be missing something, though I will be honest and say I doubt it.
The statement upthread did not end “anyone convicted of a crime involving betrayal of the trust of their employer.”
(I'd also question whether insider trading of the type here really fits that description, as the employing corporation is not really the victim.)
I could have made my sentence more clear by adding 'such a crime' instead of a crime. But given that these are comment on the article, it would be implicit to most who aren't trying to split hairs.
At the lower standard of just a crime, I still can't think of a job you'd keep when going to jail. Maybe organized crime, but that isn't a W2 job.
I'm truly trying to think of an actual job (as in W2) example for your statement, I'd be interested to know if there is one.
P.S. I never argued about victim hood. He betrayed his employers by getting confidential information that his employers legally expected he wouldn't use to his own benefit and he did. (if you click the link, this is clearly stated)
It's a matter of trust. Trust is directly related to honesty and responsibility: saying something that matches reality and being accountable. As in: people who say things and then can provide examples or admit wrong. Having your words, actions and objective reality match up is important to some of us, we value honesty.