Former Equifax exec gets 4 months in prison for insider trading after

first_img 0 Share your voice Tags Equifax Hacking Post a comment Security A former CIO for Equifax has been sentenced to four months in prison for insider trading related to the company’s massive data breach in 2017. Jaap Arriens/NurPhoto via Getty Images A former Equifax executive who sold his stock in the consumer credit reporting firm before it announced a massive data breach has been sentenced to four months in federal prison for insider trading. Jun Ying, former chief information officer for the company’s US Information Solutions, was also ordered to pay about $117,000 in restitution and a $55,000 fine, the US Attorney’s Office said Thursday.In 2017, Equifax announced that it suffered a data breach that would affect more than half of the US population, exposing the Social Security numbers, names and addresses of 147 million Americans. The company learned about the breach on July 29, 2017, but didn’t announce it publicly for nearly three months.On Aug. 25, 2017, Ying texted a co-worker about the breach, saying it “sounds bad. We may be the one breached,” according to the indictment. The next week, Ying conducted a web search to learn what happened to Experian’s stock price after the company experienced a data breach in 2015.Three days later, Ying sold all his shares in Equifax, making more than $950,000. Ying’s insider trading happened 10 days before Equifax publicly announced its breach.Ying, 44, is the second Equifax employee convicted of insider trading related to the data breach. Sudhakar Reddy Bonthu, a former Equifax software development manager, pleaded guilty in 2018 to using the insider information to make more than $75,000 on the stock market. Bonthu was ordered to serve eight months home confinement, pay a $50,000 fine and forfeit the proceeds from the stock sale.Correction, July 1: Corrected name of company involved in 2015 breach to Experian. last_img read more

May fends off opponents of draft Brexit deal

first_imgA video grab from footage broadcast by the UK Parliament`s Parliamentary Recording Unit (PRU) shows Britain`s prime minister Theresa May giving a statement to the House of Commons in London on 22 November on the draft declaration, laying out plans for future relations with the European Union. Photo: AFPBritish prime minister Theresa May on Thursday fended off heavy opposition in parliament after Britain and the EU agreed on the outlines of post-Brexit ties as part of a draft deal due to be signed off by EU leaders.After briefing her cabinet in a hastily-arranged teleconference call, May addressed the House of Commons, saying the agreement was the “best possible deal”.EU Council President Donald Tusk said the 26-page declaration covering trade, security, the environment and other issues was agreed “in principle” and would be sent to the other 27 member states for approval.The pound leapt by about one percent against the dollar and also firmed against the euro on the news, which allayed fears Britain could leave the European Union next March with no new arrangements in place.But the deal does not address the thorny issues of fishing rights and Gibraltar, which have raised concerns in EU capitals.After the draft declaration was agreed on Thursday, Spanish prime minister Pedro Sanchez repeated a threat to sink the deal if Madrid’s concerns on Gibraltar were not met.And the deal could still yet be rejected by the British parliament.British MPs of all parties criticised the divorce agreement announced last week, which includes a financial settlement and a controversial plan to avoid a hard Irish border.May hopes the promise of future cooperation will act as a sweetener to persuade her own Conservative MPs and any wavering opposition lawmakers to back her.Leap in the darkBut her critics were quick to point out that the political declaration was not legally binding, unlike the terms of the divorce.Former foreign minister Boris Johnson, who is seen as a potential leadership rival, said the draft deal “makes a complete nonsense of Brexit”.Other leading pro-Brexit Conservative MPs, as well as her Northern Irish allies the DUP, urged May to renegotiate the divorce agreement to remove a contentious legal guarantee to ensure an open Irish border.Opposition Labour leader Jeremy Corbyn confirmed his party would not back it, saying: “This is the blindfold Brexit we all feared, a leap in the dark.”The deal was struck after through-the-night talks between British and EU negotiators, which followed a last-minute visit to Brussels by May for a meeting with European Commission president Jean-Claude Juncker.She will return on Saturday, on the eve of a special summit where all 28 EU leaders are expected to sign off on the overall Brexit package.Critical momentFirst, the texts must be cleared by a meeting of top EU diplomats — the summit’s so-called “sherpas” — on Friday.”The negotiations are now at a critical moment, and all our efforts must be focused on working with our European partners to bring this process to a final conclusion,” May said.The political declaration, seen by AFP, says future ties will be wide-ranging, covering economic cooperation, law enforcement and criminal justice, foreign policy, security and defence.It includes references to Britain developing “an independent trade policy” and declares an end to free movement of citizens between Britain and the EU — two key demands of the Brexit campaign in the 2016 referendum.In the Commons, May also highlighted the possibility that the Irish border issue can be resolved through the use of technology, rather than through the controversial “backstop” customs arrangement included in the divorce deal.This is intended to avoid new border checks between British Northern Ireland and the Republic of Ireland, an EU member, after a transition period ends in December 2020.It says that unless alternative arrangements are made, Britain will stay in a customs union with the EU and Northern Ireland will continue to follow the bloc’s single market rules.Conservatives fear this would mean following the EU’s rules indefinitely, while Northern Ireland’s Democratic Unionist Party (DUP), which props up May’s government, also opposes it.They have already warned they could reject the deal if it leads to the province being separated from the rest of the UK.The EU has also agreed to update the divorce deal to allow a possible extension of the transition period “for up to one or two years” if needed to agree the new future relationship.We will veto BrexitHowever, the issue of Gibraltar remains, with Spain demanding a veto over applying any agreement on post-transition relations to the territory on its southern border which it has long claimed.Austrian Chancellor Sebastian Kurz, current holder of the rotating EU presidency, conceded the problem as he arrived for pre-scheduled talks with May in Downing Street.”There are some issues now regarding Gibraltar with Spain, but I hope that we can keep the unity among the 27,” he said.May, who spoke to Prime Minister Sanchez about the issue on Thursday, took a firm line, however.”Gibraltar’s British sovereignty will be protected, and the future relationship we agree must work for the whole UK family,” she told MPs.But late Thursday Sanchez maintained his threat to scupper the deal.”After my conversation with Theresa May, our positions remain far away. My government will always defend the interests of Spain,” Sanchez wrote on Twitter.”If there are no changes, we will veto Brexit.”last_img

Raise your hand if you want to stay at Taco Bells new

first_imgRaise your hand if you want to stay at Taco Bell’s new hotel Travelweek Group Tags: Taco Bell IRVINE, CA — Taco Bell is opening a hotel. We repeat – Taco Bell is opening a hotel.What a time to be alive! The fast-food chain revealed last month that it will be opening its first-ever hotel in Palm Springs, California called ‘The Bell: A Taco Bell Hotel and Resort’. With excitement building nationwide ahead of the hotel’s August launch, the company has just announced that reservations open on Thursday, June 27 at 10 a.m. PT/1 p.m. ET on its website.But here’s the catch: the adults-only (18+) pop-up hotel will only be open for four nights.First check-in begins Aug. 8, with final checkout on Aug. 12, with no minimum night stay. And with such a small window of opportunity, you better believe guests will be booking with visions of burritos dancing in their heads.Taking over an existing hotel at 333 E. Palm Canyon Drive, The Bell offers over 70 rooms across four room types: one king bed (standard view), one king bed (pool view), two queen beds (standard view), and two queen beds (pool view). Pricing starts at US$169 per night, with rooms going on a first come, first serve basis. More news:  Universal enhances popular Harry Potter vacation package with new perksWhat would a Taco Bell-themed hotel look like, you ask?“The hotel draws on Taco Bell’s vibrant palette to create a unique and flavour-filled destination that is the ultimate expression of the brand, unlike anything the brand has done before,” said Taco Bell’s Senior Director of Retail Engagement and Experience, Jennifer Arnoldt. This means that every element of the property will embody the Taco Bell brand and lifestyle, from guestrooms, the pool and outdoor bar, to a twist on the standard hotel amenities (Taco Bell breakfast in bed anyone?).No two days at The Bell will be the same, with performances by Feed the Beat artists, dive-in movies and the first-ever Freeze Lounge, inspired by Mountain Dew Baja Blast, where guests can enjoy frosty beverages.As for food? Well, duh, it’s Taco Bell all day, all night long!Guests will be served Taco Bell’s version of a poolside resort menu in addition to exclusive Taco Bell menu items that will make their debut at the hotel. More details on food will be announced next month.More news:  Honolulu authorities investigate arsons at 3 Waikiki hotels; no injuries reportedRoom reservations are expected to go quickly, so hurry up and run for the border! Share Posted by Friday, June 21, 2019 << Previous PostNext Post >>last_img read more