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Ex-Netflix Employees Accused of $3.1 Million Insider Trading Scheme
Gene Maddaus Senior Media WriterFive people, including three former Netflix employees, used confidential subscriber growth information to illegally trade in Netflix stock, netting $3.1 million, according to a Securities and Exchange Commission complaint filed on Wednesday.Sung Mo “Jay” Jun, 49, of Bellevue, Wash., and three others have also been criminally charged in federal court in Seattle with three counts of insider trading. All four have agreed to plead guilty.Each of the four defendants, as well as a fifth person, were charged with civil counts of insider trading by the Securities and Exchange Commission.