Hong Kong appeal court slashes fine for inside trader Du Jun

Hong Kong's biggest insider trader and former Morgan Stanley managing director Du Jun lost his appeal against his conviction but had his jail term cut and fine sharply reduced.

In a ruling thought to be unprecedented, Court of Appeal vice-president Justice Frank Stock and two other judges reduced the fine payable to HK$1.688 million, from the HK$23.3 million imposed by the District Court in September 2009.

via Business feed http://www.scmp.com/business/banking-finance/article/1041829/hong-kong-appeal-court-slashes-fine-inside-trader-du-jun