Nexen insider trading scandal

Cnooc’s Nexen acquisition marred by insider trading charges

US securities regulators filed a complaint on Friday alleging that a company connected to a Chinese billionaire made illegal trades in Nexen.

<div style="text-align: left;"> Insiders bought 1.5 million shares in Nexen ahead of CNOOC's acquisition announcement </div>

Nick Ferguson

July 30, 2012

A company controlled by Chinese billionaire Zhang Zhi Rong has become embroiled in an insider trading scandal surrounding Cnooc’s record $15.1 billion acquisition of Canadian oil and gas company Nexen.

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