Hong Kong’s Costliest-Ever Scam

The reputation of a leading Asian financial center is at stake in the wake of an enormous insider scam. Former Morgan Stanley Managing Director Du Jun was raked over the coals by Hong Kong Judge Andrew Chan for his insider dealing. Du was sentenced to 7 years in prison and fined the equivalent of $3 million dollars.  Apparently his legitimate $2 million income wasn’t adequate. The judge lambasted Du for greed, dishonesty and fraudulence for pursuing insider profits of $4.3 million. Ditto. The full Investment News story is here. http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20090918/FREE/909189995

September 21, 2009 In: Uncategorized Comments (None)