Insider Trader Pleads Guilty in SeaGen Case


Zishen Fan, of Chino Hills, CA, pleaded guilty today in U.S. District Court in Seattle to charges that he traded on insider information on Seattle Genetics (NASDAQ: SGEN) in 2010, according to a statement from the U.S. Attorney’s Office for Western Washington. Fan’s brother, Zizhong “James” Fan, now deceased, was at the time a manager of clinical programming at Seattle Genetics, and was accused by securities regulators of providing tips to Zishen that enabled the brothers to make more than $700,000 on the nonpublic information, officials said. Zishen Fan could face up to 20 years in prison when he faces sentencing on Oct. 7.

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