The American Securities and Exchange Commission published a claim against Suyun Gu and Yong Lee. They were accused of taking part in illicit actions involving options-trading and “wash trades”.
As stated in the SEC’s claim, submitted at the New Jersey District Court and examined by FX News Group, from February to April this year, these individuals built a scamming plan involving options-trading. They obtained over $1 mln in rebates from U.S. national security exchanges through thousands of “wash trades”. It means that simultaneous or near-simultaneous buy and sell options of securities having no changes within their ownership.