Former Capital One analyst sentenced for insider trading

According to court documents, Nan Huang, 45, conspired with his then-coworker to commit insider trading. From 2008 to 2015, Huang worked as a senior data analyst for a subsidiary of Capital One Financial Corporation.

As a senior data analyst, Huang had access to a Capital One database that collected transaction data from Capital One credit card and debit card customers. In violation of his fiduciary duties to Capital One, Huang searched this database thousands of times and compiled on his work computer material, non-public information about publicly traded companies.

Because this information was highly correlated with the not-yet-public actual revenue of these companies, Huang was able to predict whether these companies would meet their revenue expectations. Huang then executed hundreds of trades using this non-public information and reaped extraordinary profits. Huang personally made over $1.4 million in profits, while the overall conspiracy made more than $3.1 million.

Capital One fired Huang in 2015 after it discovered his activity. Days later, Huang fled the country to China, where he remained until his arrest at San Francisco International Airport on April 23, 2023.

Jessica D. Aber, U.S. Attorney for the Eastern District of Virginia; Stanley M. Meador, Special Agent in Charge of the FBI's Richmond Field Office; and Kareem A. Carter, IRS Criminal Investigation Special Agent in Charge of the Washington D.C. Field Office, made the announcement after sentencing by U.S. District Judge Rossie D. Alston, Jr.

Assistant U.S. Attorneys Christopher Hood and Zachary Ray prosecuted the case. Former Assistant U.S. Attorney Matthew Burke provided significant assistance on the case.

A copy of this press release is located on the website of the U.S. Attorney's Office for the Eastern District of Virginia. Related court documents and information are located on the website of the District Court (https://www.vaed.uscourts.gov/) for the Eastern District of Virginia or on PACER (https://pcl.uscourts.gov/) by searching for Case No. 1:18-cr-319.

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Original text here: https://www.justice.gov/usao-edva/pr/former-capital-one-analyst-sentenced-insider-trading