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News > Companies
Morgan trainee arrested
September 12, 1997: 7:40 p.m. ET

Trader allegedly made $350,000 based on confidential information
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NEW YORK (CNNfn) - A junior analyst at J.P. Morgan & Co. was charged with insider trading Friday for allegedly trading based on confidential information he obtained on the job, a J.P. Morgan spokeswoman said.
     The firm has suspended the employee, 25-year-old Roy Handojo, until Monday, when he will be fired, Morgan spokeswoman Laura Maggos told CNNfn. Handojo, a citizen of Indonesia, has lived in New York City since October 1996. If convicted, he faces up to 10 years in prison and $1 million in fines.
     Federal prosecutors in Washington and New York could not immediately be reached for comment.
     Handojo reportedly made $350,000 in profits from trading shares of NationsBank, Barnett Banks and ACC Consumer Financial Corp. Allegedly, he bought shares in Barnett and ACC before related acquisitions were announced publicly.
     J.P. Morgan said it is cooperating with the investigation and only Handojo was involved. Back to top

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.