Ex-Morgan Stanley MD ordered to pay $3.1m for using inside info


Former Morgan Stanley managing director Du Jun was ordered to pay $3.1m to investors who sold shares to him which he was convicted of using inside information to trade.

Bloomberg Businessweek reports that the restoration order by Hong Kong’s High Court Thursday benefits more than 297 investors in Citic Resources Holdings, the Securities and Futures Commission said in a statement.

Du’s conviction for insider trading was upheld on appeal last year, with his sentence reduced to six years from seven.

District Court Judge Andrew Chan in 2009 found Du guilty of nine counts of the offence and one charge of advising his wife to trade Hong Kong-listed Citic Resources, a Chinese oil and coal producer, in 2007.

To access the complete Bloomberg Businessweek article hit the link below:

Ex-Morgan Stanley's Du Ordered to Pay $3.1 million to investors

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