Couple Pays $3M To Settle Nexen Insider Trading Claims

Law360, New York (March 29, 2013, 7:41 PM EDT) -- A Chinese businessman and his wife have agreed to pay $3.3 million to settle U.S. Securities and Exchange Commission allegations of insider trading connected to China National Offshore Oil Co. Ltd.’s acquisition of Nexen Inc., the agency said Friday. 

Ren Feng and his wife, Zeng Huiyu, along with his private investment company CT Prime Assets Limited and four of her brokerage customers, agreed to fork out $1 million more than the profit they collectively made by allegedly trading on inside information about China National's proposal to...
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