An Indiana husband and wife recently entered guilty pleas in the Washington, D.C. federal court in connection with an insider trading conspiracy tied to a major corporate acquisition. On September 15, 2026, Fan Yang, also known as “Jocelyn Yang,” and Jing Tian, both of Carmel, Indiana, each pleaded guilty to conspiring to commit securities fraud. Under their respective plea deals, Yang and Tian agreed to surrender all traceable gains from the scheme in accordance with federal forfeiture laws. They are currently scheduled to be sentenced on January 15, 2027.
According to federal prosecutors, in late 2021, Yang was serving as the Corporate Development Manager and Strategy Finance Controller at an Indiana-based manufacturing company when she obtained access to confidential details about her employer’s planned $3.7 billion acquisition of a Michigan automobile component manufacturer. She is accused of violating her fiduciary duty to the company by using material non-public information (“MNPI”) for her personal benefit and then sharing it with Tian, who also worked at the Indiana-based firm. The couple also allegedly traded on the MNPI and shared the inside information with third parties in Washington, D.C., Virginia, Washington state, and abroad, enabling multiple individuals to collectively generate hundreds of thousands of dollars in illicit profits before the deal was publicly disclosed on February 22, 2022.