NEW YORK, N.Y. – A New York appeals court has upheld the conviction of a California finance researcher who used code words like “recipes,” ”cooks” and “sugar” to disguise an insider trading scheme.
The 2nd U.S. Circuit Court of Appeals in Manhattan on Wednesday rejected various arguments made by Winifred Jiau (zhow).
She was convicted in June 2011 of wire fraud and conspiracy to commit securities fraud.
The Fremont, Calif., resident is serving a four-year prison sentence. She is scheduled to be released in June.
The appeals court rejected her request for a new trial. She had argued that the government was wrong to use as evidence recordings that were made because a worker could not hear well.