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HK Banker Jailed for Insider Deal

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OH MOTHER MO'
A Hong Kong court has sentenced former Morgan Stanley managing director Du Jun to seven years in prison after his insider trading conviction last week, BBC Investigates. He was found to have made $4.3m from trading stock in a Chinese state-owned investment firm while advising it on the acquisition of a Kazakh oil field. Du bought $11m of stock in Citic Resources while advising the company on the purchase of an oil field in Kazakhstan. He sold half the stock for a $4.3m profit after the deal was announced. Du was convicted of nine counts of insider trading and one of advising his wife to deal in shares of Citic Resources.
SOURCE:   BBC

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