Friends Accused of Trading on Data for Edgar Face Widening Probe

The FBI had to move fast when agents learned that two men who were the focus on an insider trading investigation were about to get on a flight to Hong Kong.

Before they could board the early morning June 28 flight, federal agents arrested Justin Chen, 31, and Jun Zhen, 29. Prosecutors say they pocketed at least $1 million by taking information they learned from their job at a private company that formats materials before they are submitted to the Securities and Exchange Commission’s Edgar filing system.

At a pair of court hearings, prosecutors said that they were ...