Related News
鈥楻at trader鈥 who fled to America turns himself in
AN investment manager of a local insurance company who fled to the US on suspicion of “rat trading” has returned to Shanghai and handed himself in, police said yesterday.
The 41-year-old man, surnamed Liu, allegedly traded stocks using another person’s account ahead of, or in synchronization with, investment decisions concerning a company account that was his responsibility.
The volume of the illegal trading, which lasted from January 2014 to February 2015, amounted to 120 million yuan (US$18 million), and the alleged profit in the personal account from the trading was a “few hundred thousand yuan,” police said.
After being questioned by the securities regulators last December, Liu fled Shanghai at the beginning of this year, taking his two children with him.
Police said they talked to his wife, who had remained in Shanghai, and she had persuaded her husband to turn himself in.
Liu Wenbo, the police officer in charge of the case, said the suspect could be charged with illegal transactions and could face up to 10 years in prison and be fined five times the amount of the illegal profit, according to Chinese law, but if the court accepted that he had turned himself in, he could receive a lighter sentence.
The owner of the account involved in the illegal transactions was exempted from any charges because he was considered to be unaware of any illegal dealings.
- About Us
- |
- Terms of Use
- |
-
RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔$粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.