The former investment director of Shanghai-based Everbright-Prameric Fund Management Co was yesterday sentenced to three years in jail with three years’ reprieve for insider trading. Xu Chunmao, who the Jing’an District court heard had been in the mutual fund business for more than seven years, was also fined 2.1 million yuan (US$329,437). Xu was the first Shanghai-based asset manager to be sentenced for insider trading, the court said.
Read more: China: Insider trading ends in jail term — Eastday
