A FORMER executive at a Shenzhen-based securities firm stood trial at Shenzhen Intermediate People’s Court on Tuesday for being charged with using nonpublic information in stock trading, the Southern Metropolis Daily reported yesterday.

    Jiang Zhiyong was the general manager of the securities investment department at Century Securities in Shenzhen.

    According to the prosecutors, Jiang profited over 2.89 million yuan (US$405,721) by using a securities account registered under his sister-in-law’s name to make trades between 2010 and 2014 involving 53 stocks, about which he had obtained nonpublic information by taking advantage of his position.

    Jiang also helped a client, surnamed Huang, earn 660,000 yuan by trading with nonpublic information between 2010 and 2014, and he was given a 20-percent share of the profit by Huang. Similarly, he helped another client, surnamed Jin, profit 220,000 yuan between 2010 and 2014 by trading 47 stocks for a 20-percent share of the profit.

    Jin had also entrusted Jiang to trade stocks under his mother’s securities account in September 2011, but Jiang lost 490,000 yuan after trading 34 stocks as of June 10, 2014.

    According to the prosecutors, Jiang made a total profit of 3.28 million yuan by using nonpublic information in stock trading, and he should be held criminally responsible.

    Jiang pleaded guilty at the court. The hearing of the case continues. (Zhang Yang)