Chinese Ex-Employee of U.S. Hedge Fund Two Sigma Faces Fraud Charges
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Wu Jian and some of the model parameters he modified. Photo: AI generated
A former employee of U.S. hedge fund Two Sigma faces criminal charges for allegedly manipulating its algorithmic investment models.
Federal prosecutors in Manhattan and the Federal Bureau of Investigation (FBI) announced last week that Chinese national Wu Jian had been indicted for securities fraud, wire fraud and money laundering. Each charge carries a maximum sentence of 20 years behind bars.
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