Morgan Stanley banker convicted of insider dealing
A Hong Kong court on Thursday convicted a former senior banker at Morgan Stanley of insider dealing over a large Chinese overseas acquisition in the city's highest-profile market misconduct case.
By Agencies |
HONG KONG: A Hong Kong court on Thursday convicted a former senior banker at Morgan Stanley of insider dealing over a large Chinese overseas acquisition in the city's highest-profile market misconduct case.
Du Jun, former managing director in the fixed income department of Morgan Stanley Asia, was found guilty of using market-sensitive information gained in his position to trade in shares in CITIC Resources, an arm of China's largest investment conglomerate CITIC Group.
"I am satisfied that the prosecution have been able to prove each and every element of the offence of the Securities and Futures Ordinance to the required criminal standard," District Court Judge Andrew Chan told Du. "I convict you of all of them."
Du Jun, former managing director in the fixed income department of Morgan Stanley Asia, was found guilty of using market-sensitive information gained in his position to trade in shares in CITIC Resources, an arm of China's largest investment conglomerate CITIC Group.
"I am satisfied that the prosecution have been able to prove each and every element of the offence of the Securities and Futures Ordinance to the required criminal standard," District Court Judge Andrew Chan told Du. "I convict you of all of them."
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