Jing Wang, former president-global business operations at Qualcomm,...

Jing Wang, former president-global business operations at Qualcomm, pleaded guilty Monday to insider trading in shares of Qualcomm and Atheros, the Department of Justice said (http://1.usa.gov/1k8IhDX). Wang also pleaded guilty to laundering the proceeds using an offshore shell company, in federal court in San Diego before U.S. District Judge William Hayes. “Not satisfied with his lucrative executive position at Qualcomm, Jing Wang traded on insider information about the company’s acquisitions and earnings to gain an illegal advantage in the financial market,” said Assistant Attorney General Leslie Caldwell. Wang also laundered close to $250,000 in insider trading profits “and created a cover-up story to hide his crimes.” The insider trading took place on three separate occasions over a 10-month period in 2010-2011, DOJ said.