One is a Ph. D. in quantum physics at MIT and the other is a graduate of Harvard Law School. No one thought, however, that the Chinese elite couple would be deported just because they wanted to be cheap!
This story, let everyone reflect.
Yan Fei (Fei Yan, born in Nanjing in 1986, received an undergraduate degree in physics from Nanjing University, and a doctorate in atomic nuclear physics and engineering at MIT in 2008. Five years later, he received a doctorate in atomic nuclear physics and engineering. He later took a post-doctoral position in the MIT Department of Electronic Engineering and computer, specializing in quantum computing.
On Oct. 30, Yan admitted in a federal court in the Southern District of New York that he used his wife, Wang Monroe (Menglu Wang, to illegally trade shares and commit securities fraud to (SecuritiesFraud).
After pleading guilty, Yan faced deportation and his wife, who graduated from Harvard Law School, was fired.
A voice of courtship
As the judge was about to sentence him, Yan Fei's lab boss and friends pleaded for him, calling him an outstanding scientist, loyal friend and helpful mentor, hoping the judge would not send him to prison.
Mr. Yan's defense attorney filed documents with the court asking the judge to pass a light sentence, along with 49 pages of courtship letters from more than 20 people, including Mr. Yan's parents, lab owners, friends and colleagues. The lawyer asked the judge to order only 300 hours of community service.
Yan Fei's lawyer pointed out that Yan Fei, a loving husband, loyal friend, hard-working person, dedicated and talented scientist, is still regarded by his employer, MIT, as an irreplaceable person. Over the past few years, as a co-author, he has published 16 articles in professional journals such as Science.
Why?
In 2016, Wang Monroe's law firm participated in Stan International holding (Steinhoff International Holdings) 's acquisition of mattress holding company (MattressFirm Holding Corp.) In the negotiations, M & A amounts to as much as $2.4 billion.
Before the announcement, Yan Fei received news of the acquisition from his wife, opened an account with the stockbroker under the name of his distant mother in China, and quickly sold all the shares he had bought the previous night after the announcement. I got $9700 for the first time.
Last November, Yan Fei learned from his wife again: South African mining company Sibanye Gold Ltd. Plans to buy Colorado's StillwaterMining Mining Company for $2.2 billion.
This time, he took advantage of the negotiations to buy a large number of options on behalf of his mother again and sold them in large quantities when the news was announced on December 9, making a profit of $ one hundred and ten thousand.
At the same time, Yan also searched the Internet for precedents of the U.S. Securities and ExchangeCommission,SEC 's insider trading decision, browsing an article entitled "want to do insider trading?"
All this evidence has led SEC and US prosecutors to confirm that Yan Fei did deliberately profit from inside information.
During the trial, Yan Fei said he would waive the rights to appeal, acquittal and other rights and promised to be deported immediately after serving his sentence.
Moreover, despite Yan Fei's assertion that her wife had no knowledge of her charges, prosecutors could not clear her suspicions. In response, Wang Monroe worked for the law firm said: it has been dismissed. Wang's lawyer's license was frozen.
Final judgement on 30 March
Yan's lawyer also said in court documents that Yan caused his wife to lose his job, causing irreparable damage to their marriage and that Wang would have difficulty finding a job in the future due to widespread media reports.
Defense lawyers say Yan Fei will be deported for felony crimes and his wife will face serious immigration consequences.
The judge will sentence Yan Fei on March 30.
A good pair of elite, cold window for decades, unexpectedly fell to such an end. It has to be lamentable.
When we emigrated out of the country, we really could not be greedy at random. The editor learned that two Chinese people who bought seafood illegally fished by local people because of greed for cheap goods had become "accomplices" in the illegal seafood trade unknowingly, and not only had they been captured by the police. To be brought to court, and even face skyrocketing fines.
Overseas, the law loophole behavior is zero tolerance, will face severe punishment. Chinese must not be lucky and greedy for small and cheap.