IT firm's ex-boss jailed for insider trading
By Zhang Xiaomin in Dalian, Liaoning | China Daily | Updated: 2016-11-26 07:05
A former CEO of the Chinese technology conglomerate Founder Group was sentenced to four and a half years in prison and fined 750 million yuan ($108 million) on Friday by a court in Liaoning province.
Li You was found guilty of insider trading, obstructing police in their duties and hiding accounting documents, the Dalian Intermediate People's Court said in an announcement published on its website.
As an insider, Li made stock trades before the release of major corporate information that would affect stock prices, the court found.
Photo
