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Ex-Morgan Stanley banker jailed for 7 years in HK
18 Sep 2009, 1559 hrs, AGENCIES
HONG KONG: An ex-Morgan Stanley banker was sentenced Friday to seven years in prison in Hong Kong's biggest insider trading case, an
``unprecedented'' scam a judge said undermined the integrity of this leading Asian financial center.
Du Jun, a former managing director of the Wall Street investment bank, also was fined about 23.3 million Hong Kong dollars (about $3 million).
The 41-year-old Beijing-native showed little emotion as a Hong Kong judge chastised him for his ``greed'' and ``dishonesty and fraudulence.'' Du risked making the illegal trades even though he was earning well over $2 million a year at Morgan Stanley.
``The scale was unprecedented,'' Judge Andrew Chan said, referring to the millions Du used in his trades.
18 Sep 2009, 1559 hrs, AGENCIES
HONG KONG: An ex-Morgan Stanley banker was sentenced Friday to seven years in prison in Hong Kong's biggest insider trading case, an
``unprecedented'' scam a judge said undermined the integrity of this leading Asian financial center.
Du Jun, a former managing director of the Wall Street investment bank, also was fined about 23.3 million Hong Kong dollars (about $3 million).
The 41-year-old Beijing-native showed little emotion as a Hong Kong judge chastised him for his ``greed'' and ``dishonesty and fraudulence.'' Du risked making the illegal trades even though he was earning well over $2 million a year at Morgan Stanley.
``The scale was unprecedented,'' Judge Andrew Chan said, referring to the millions Du used in his trades.
