Winifred Jiau, the former consultant for expert-networker Primary Global who was arrested last week as part of the massive U.S. probe into insider trading, was today denied bail by a federal magistrate, according to Reuters. The decision has got to sting for Ms. Jiau, since she had previously been granted bail in exchange for $250,000, but then went to jail anyway as the person set to co-sign the bond decided not to. U.S. Magistrate Judge Bernard Zimmerman has concluded she is a flight risk; Ms. Jiau is set to remain under lock and key.
Ms. Jiau is accused of providing insider tips on technology firms Marvell and Nvidia to hedge fund portfolio managers. It may not be cuffs and jumpsuits for good, however. Although Mr. Zimmerman is concerned that Ms. Jiau may make tracks, he might reconsider his decision to jail her should her lawyers and prosecutors iron out a workable bail agreement.
mtaylor [at] observer.com | @mbrookstaylor