CHENGDU, Feb.16 (NBD) -- Shaohua (Michael) Yin, a 44-year-old Chinese, was charged by U.S. Securities and Exchange Commission (SEC) for reaping massive profits from insider trading on Comcast-DreamWorks Acquisition.

The SEC alleges that in the weeks leading up to the news of the acquisition, Shaohua (Michael) Yin amassed more than 56 million US dollars of DreamWorks stock via five Chinese accounts, including his elderly parents. The five accounts altogether reaped 29 million US dollars from DreaWork trade.

Summitview Capital Management Ltd., former employer of Yin, is a Hong Kong-based private equity firm. NBD was told that Yin had resigned on February 8 for personal reasons. And the company denied any involvement in his fraud.

Email: tanyuhan@nbd.com.cn