On September 11, 2025, the Securities and Exchange Commission (SEC) charged Jian Wu to orchestrate a plan to deceive his former employer, two SIGMA, LP and subsidiary, two Sigma, LP advisers, and to earn millions of dollars, Including the decisions that need to be purchased and purchased and sell investments and provide investment and investment, including decorions and sections and sells and states and states.
SEC’s complaint argues that since November 2021 and August 2023, WU has secretly handled at least fourteen investment models that created or helped create, which two sigma used to predict the future performance of mobile values and who have understood two sigma.
According to the complaint of the Securities and Exchange Commission, WU was misled in two sigma that these models created unique forecasts when in fact the Wu made unauthorized and non -announced changes to these models that caused them to effectively reproduce the predictions of other Sigma models. Unauthorized WU changes have allegedly caused two sigma to buy and sell securities for its customers in amounts, rallies and frequencies that were different from Sigma’s two intended strategies and caused at least $ 165 million in damage to some customers.
According to the complaint, WU received millions of dollars from poor profits in motivation as a result of his fraud.
The complaint of the SEC, filed with the South District Court of New York, accuses WU in violating the provisions against Article 17 (a) of the 1933 Mobile Values Act and Section 10 (b) of the Law on the Exchange of Mobile Values of 1934 and Article 10B-5 Barring Wu from being associated with an investment lining.
In a parallel action, the US Public Prosecutor’s Office for the southern district of New York announced criminal charges against WU on September 11, 2025.