Partner in firm behind Imagination convicted of insider dealing

Partner in firm behind Imagination convicted of insider dealing

Business news |
Benjamin Chow, a co-founder and partner at Canyon Bridge Capital Partners, a US-based private equity firm funded with money from the Chinese government, has been found guilty in a Manhattan court of insider trading, according to a Reuters report.
By Peter Clarke


Chow, a US citizen born in China, was accused back in November 2017 of leaking information about a proposed deal to acquire Lattice Semiconductor Corp. to a friend and former colleague ahead of the formal announcement, allowing him to make $5 million, the report states.

The deal was eventually blocked by President Trump, although Canyon went on to acquire UK intellectual property licensing firm Imagination Technologies Ltd. That sale did not include U.S. based MIPS, which was divested to Tallwood Venture Capital.

Chow is scheduled to be sentenced on August 20 by US District Judge Gregory Woods.

There is a risk that the verdict could be interpreted by China in the context of a souring of trade relations between it and the US that has taken hold since President Trump applied trade sanctions against China in March 2018.

Chow has previously run North Asian semiconductor investments for private equity firm Warburg Pincus and in his early career was a product manager for Applied Materials and a research engineer for Boeing, according to the Canyon Bridge website.

Related links and articles:

Reuters report

News articles:

President Trump blocks Lattice deal

US export ban on ZTE will hurt Qualcomm, others

Canyon Bridge founder charged with insider trading

Imagination, MIPS to be sold to China-, California-connected VCs

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