Feb. 9, 2007 (China Knowledge) – Daniel Chiang, former co-chairman Sina Corp., and his wife, Trend Micro Inc. chief executive officer Eva Chen, will pay US$643,600 for insider trading of Sina shares, the U.S. Securities and Exchange Commission said.

In the statement, Chiang, with the assistance of Chen, short sold shares of SINA securities in Chen's mother's account after learning the company would publish revenue forecasts below investor expectations. After the close of the market on February 7, Sina announced that it was expecting a revenue shortfall, and its stock price dropped approximately 26%, helping Chiang gain US$257,833 from the inside trade.

Chiang will forfeit US$515,700 in profits and fines for making the trades, while Chen will pay a US$127,900 penalty for helping him, the statement said.

Chen and Chiang neither admitted nor denied the SEC's allegations in agreeing to settle the case. Chen will still serve as chief executive officer and as a director of Trend Micro after the company’s board gave her a vote of confidence.