exbnp-banker-starts-jail-term

Ex-BNP banker starts jail term

Hong Kong's first criminal prosecution for insider trading results in the ex-BNP Paribas banker and his girlfriend serving time in jail.

Ma Hon Yeung Ma, former vice-president of BNP Paribas Capital Asia-Pacific, has been admitted to jail to serve a 26-month sentence for insider trading. Ma was found guilty of insider dealing three weeks ago and has also been sentenced to a fine of HK$230,000 $29,677.

This is the first time any person has been sentenced to jail for insider trading in Hong Kong, according to the Securities and Futures Commission, and the first criminal prosecution under the Securities and Futures Ordinance since insider trading was made a criminal offence in Hong Kong in 2003. The maximum penalty for being found guilty of insider dealing is 10 years in jail and a fine...

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