Ex-Morgan Stanley Analyst Gets Jail Time

Reuters reports that a former financial analyst at Morgan Stanley and her husband, who worked in an ING hedge fund unit, both got banged up for 18 months Tuesday, for insider-trading.

Jennifer and Ruben Chen, from New Jersey, faced up to 37 months in clink after admitting that they made over $600,000 by trading on non-public information Mrs Wang obtained whilst working at Morgan Stanley. In an unusual move, the judge allowed the couple to serve their sentences one after the other in order that one parent will be available to care for their young son, who was born in June - just one month after the pair were arrested.

Although the couple hope that Mr Chen would be able to take the wrap for them both, the judge wasn't having any of it. US District Judge Colleen McMahon said that 'a clear message does need to be sent to everyone who works in this industry. You are both culpable. You are both going to do prison time'. Turning to a weeping Mrs Wang, the judge added 'you are not less culpable. You are more culpable. You are the thief. You have done this to your son'.

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