SEC v. Rong Chen, et al. (insider trading, 2018)

Settled

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In September 2018 the SEC charged deal advisor Rong Chen with insider trading in RDA Microelectronics and 58.com securities through his wife's account, and named her as a relief defendant. On 1 March 2019 the Central District of California entered a consent judgment with an injunction, $167,092 disgorgement, $26,356 interest and a $167,092 penalty.

The record

What was ordered

Civil penalty

$167k

Disgorgement

$167k

Prejudgment interest

$26.4k

Total relief

$361k

Alleged gain

—

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

The SEC alleged that as a Tsinghua Unigroup vice president and later as an adviser to 58.com, Chen learned of impending acquisitions and traded through his wife's account to conceal it. Wang is a relief defendant, meaning she is named to hold the proceeds, not charged with trading. The complaint asked for disgorgement from both, interest and a penalty from Chen.

A later SEC litigation release shows the case settled. On 1 March 2019 the court entered a final consent judgment against Chen, who neither admitted nor denied the allegations. It permanently enjoins him from antifraud violations and sets disgorgement of $167,092, prejudgment interest of $26,356 and a civil penalty of $167,092. The release says the SEC would voluntarily dismiss its claim against his wife, Yuehong Wang, the relief defendant, after he agreed to disgorge; we did not see that dismissal itself. The release mentions no criminal case.

What technique is this, and how does it work?

This action is tagged with one technique in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

• Insider trading — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2018-09-14 Litigation release published
2. 2019-03-01 Final consent judgment entered against Chen

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• SEC litigation release
• SEC litigation release LR-24417 (consent judgment)

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Same matter

The library links these 2 records because they appear to concern one matter: the same lead defendant, an overlapping technique tag and close filing dates, or a shared court docket or a release that cites the other. Records are listed by date filed.

This grouping is the library's, made by matching names, techniques, dates and citations when the site is built. It is not the regulator's or a court's determination that the records are one case, and it errs towards missing a link rather than making a false one.

Related actions

Other actions in the library sharing at least one technique tag with this one.

Record added September 10, 2026. submit a correction.