TechTaffy

tech:

taffy

Qualcomm Executive VP Charged With Insider Trading

By TechTaffy Desk

Jing Wang, 51, of Del Mar, Calif., a former executive vice president and president of global business operations for Qualcomm, was charged with insider trading in shares of both Qualcomm and Atheros Communications using a secret brokerage account and an offshore shell company in the British Virgin Islands.

Mr. Wang was also charged with conspiring with his brother, co-defendant Bing Wang, 53, and his former stock broker to obstruct an ongoing U.S. Securities and Exchange Commission (SEC) investigation and laundering the proceeds of his insider trading using a second offshore shell company and secret brokerage account.

Acting Assistant Attorney General Mythili Raman of the Justice Department’s Criminal Division and U.S. Attorney Laura E. Duffy of the Southern District of California made the announcement.

Mr. Wang was taken into custody by the FBI on the charges. A warrant has been issued for the arrest of Bing Wang, who is believed to be a citizen and resident of China. The former stock broker, Gary Yin, was charged with conspiracy in a criminal information.

You can find the specifics of the charges and additional information on the Department of Justice website here.

Just in

Series A

Tembo raises $14M

Cincinnati, Ohio-based Tembo, a Postgres managed service provider, has raised $14 million in a Series A funding round.
Around the web

Raspberry Pi is now a public company — TC

Raspberry Pi priced its IPO on the London Stock Exchange on Tuesday morning at £2.80 per share, valuing it at £542 million, or $690 million at today’s exchange rate, writes Romain Dillet. 
Fundings

AlphaSense raises $650M

AlphaSense, a market intelligence and search platform, has raised $650 million in funding, co-led by Viking Global Investors and BDT & MSD Partners.
Around the web

Elon Musk’s xAI raises $6B to take on OpenAI — VentureBeat

Confirming reports from April, the series B investment comes from the participation of multiple known venture capital firms and investors, including Valor Equity Partners, Vy Capital, Andreessen Horowitz (A16z), Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding, writes Shubham Sharma. 
IT

Capgemini partners with DARPA to explore quantum computing for carbon capture

Capgemini Government Solutions has launched a new initiative with the Defense Advanced Research Projects Agency (DARPA) to investigate quantum computing's potential in carbon capture.