Ex-fund manager's sentence increased

A court affiliated with the Supreme People's Court increased on Friday the sentence of a former fund manager who was convicted of insider trading last year.

The First Circuit Court in Shenzhen, Guangdong province, sentenced Ma Le, 33, former fund manager at Bosera Funds, to three years in prison, removing the possibility of an alternative five-year probation from the original sentence.

In addition, the court increased the initial 18.84 million yuan ($2.92 million) fine levied against him to 19.13 million yuan. Ma's illegal profits of more than 19 million yuan will be confiscated, under the verdict.