BEIJING — A former Chinese stock market regulator who was detained after a collapse in share prices in 2015 was sentenced Friday to 18 years in prison on charges of taking bribes and insider trading. Yao, 56, also was fined 11 million yuan ($1.7 million) and stripped of 2.1 million yuan ($300,000) in insider trading profits, the Intermediate People’s Court in Handan, southwest of Beijing, announced on its social media account. He took 69.6 million yuan ($10.7 million) in bribes from companies to ease share trading and other restrictions from 2006 to 2015, the court said. The government has released no details of from which companies Yao took bribes or whether other people were prosecuted. Authorities detained prominent figures including executives of Chinese brokerages after stock prices collapsed in mid-2015.

Source: National Post September 28, 2018 09:00 UTC