SEC v. Sung Mo Jun, Joon Jun, Junwoo Chon, Ayden Lee, and Jae Hyeon Bae (insider trading, 2021)

Settled

✓ Checked against the primary document on October 3, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, with sampled and disputed records read a second time. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.

Report an error in this record (sec-sung-mo-jun-joon-jun-junwoo-chon-ayden-lee-insider-trading-2021) by email

In August 2021 the SEC charged three former Netflix engineers and two associates with trading on confidential subscriber-growth information for over $3 million. All five consented to judgments subject to court approval; only Jae Hyeon Bae's $72,875 penalty was fixed, and Sung Mo Jun agreed to an officer-and-director bar.

The record

What was ordered

Civil penalty

$72.9k

Disgorgement

—

Prejudgment interest

—

Total relief

$72.9k

Alleged gain

$3m

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 Securities and Exchange Commission announced the case on August 25, 2021 as litigation release 25180; the complaint was filed on August 18 in the Western District of Washington.

The complaint alleges Sung Mo Jun tipped his brother Joon Jun and friend Junwoo Chon while at Netflix, later obtained information from Ayden Lee, and that Bae tipped Joon Jun. Parallel criminal charges were filed against four of them.

The earlier record listed the status as judgment, split the names wrongly and showed no penalty; the judgments need court approval and other penalties are to be decided.

For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the release.

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. 2021-08-25 Litigation release published

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

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.

Related actions

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

Record added September 10, 2026. submit a correction.