Two other directors, Gu Yanfei (who has since left the board) and Li Yongji, were also fined S$150,000 each for helping to conceal the losses. All three face prison sentences if they fail to pay.
Jia, who received the maximum allowable sentence for insider trading, remains chairman. The insider trading charge stemmed from the sale of 15% of CAO in October 2004, shortly before the company sought bankruptcy protection.
- Asia moves: Natixis sales head moves to Barclays, new banking head for StanChart Singapore, and more
- Functional programming reaches for stardom in finance
- Banks hope final FRTB rules will ease NMRF burden
- Banks use machine learning to ‘augment’ corporate sales
- Buy-siders eye ways to get ahead of US resolution stay rules