A former Morgan Stanley managing director and investment banker in the firm's fixed-income group was yesterday found guilty of insider dealing by a Hong Kong district court in a case dating back to 2007. He was remanded in custody pending sentencing today.
Du Jun was found guilty of all 10 charges of insider dealing in HK$86 million $11 million worth of shares in Hong Kong-listed Citic Resources Holdings before and after an acquisition by the company of oil field assets in China that was announced on May 9, 2007. According to the press release issued by the Hong Kong Securities and Futures Commission the securities regulator which investigated the case, Du bought a...
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