U.S. charges ex-Qualcomm executive, adviser in insider-trading scheme

WASHINGTON (Reuters) - The U.S. government on Monday filed civil and criminal charges against a former executive at the wireless technology company Qualcomm and his financial adviser, alleging they reaped illicit profits by using inside information about the company in trading stocks.

The Securities and Exchange Commission's civil lawsuit alleges that ex-Qualcomm executive vice president Jing Wang, 51, and former Merrill Lynch senior vice president Gary Yin, 54, used inside information about the company's financial results and a pending acquisition of Atheros Communications, Inc. to trade stocks and then hid their profits in sham brokerage accounts.

The SEC said the U.S. Attorney's Office for the Southern District of California also had filed parallel criminal charges against them.

(Reporting by Sarah N. Lynch)

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