2 Bellevue Men Sentenced In Netflix Insider Trading Scheme: DOJ

BELLEVUE, WA — A federal judge on Friday sentenced a former Netflix engineer and his best friend to prison for their roles in an insider trading scheme, according to the U.S. Attorney’s Office.

Prosecutors said the scheme netted more than $3 million in illicit earnings.

According to court filings, Sung Mo Jun, 49, of Bellevue worked as a software engineer at Netflix between July 2016 and February 2017 and had access to non-public information, including detailed subscriber data. Prosecutors said Jun shared information with his brother Joon Jun, 45, of Issaquah and a close friend, Junwoo Chon, 50, of Bellevue.

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After leaving Netflix, prosecutors said Sung Mo Jun received additional insider information from another Netflix employee, Ayden Lee, 33, of San Jose, Calif., which the group used to make several hundred thousand dollars in added profits.

On Friday, a federal judge in Seattle sentenced Sung Mo Jun to two years in prison and ordered him to pay a $15,000 fine on top of forfeiting nearly $500,000 in illegal gains. Chon was sentenced to 14 months in prison and ordered to pay a $10,000 fine and forfeit $1.6 million.

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“Mr. Jun and Mr. Chon were both financially secure with good jobs and good salaries when greed drove them to break the law to increase their own wealth, at the expense of others,” said Nick Brown, U.S. Attorney for the Western District of Washington. “Such conduct, will not be tolerated.”

The two other men, Joon Jun and Lee, are scheduled for sentencing next year.

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Source: Bellevue Patch