Prison sentence for former boss at Hanlong
- {{x.value}}
{{ twilioFailed ? 'SMS Code Failed to Send…' : 'Enter verification code' }}
{{ completedStep1 ? 'Authentication & Security' : content.trialHeading.replace('{0}', user.FirstName) }}
{{ content.upgradeHeading.replace('{0}', user.FirstName) }}
The email address you entered is registered with InvestSMART
Please login to continue
We have sent you an email with the details of your registration.
Looks you are already a member. Please enter your password to proceed
{{ upgradeCTAText }}
Updating information
Please wait ...
Your membership to InvestSMART Group recently failed to renew.
Please make sure your payment details are up to date to continue your membership.
Having trouble renewing?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
You've recently updated your payment details.
It may take a few minutes to update your subscription details, during this time you will not be able to view locked content.
If you are still having trouble viewing content after 10 minutes, try logging out of your account and logging back in.
Still having trouble viewing content?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
Please click on the ACTIVATE button to activate your Intelligent Investor 15-day free trial
Please click on the ACTIVATE button to finalise your membership
Unsuccessful registration
Registration for this event is available only to Eureka Report members. View our membership page for more information.
Registration for this event is available only to Intelligent Investor members. View our membership page for more information.
- You are already registered for this event.
- This event is already full.
- Please select a quantity for at least one ticket.
- {{ i }}
Forgotten password
Please enter your email address below to request a new password
- Verify your email address by clicking on the link we sent to {{user.Email}}
- You now have free access, we look forward to helping you on your financial journey.
Mr Bo Shi Zhu, also known as Calvin Zhu, appeared in the NSW Supreme Court on Friday and was sentenced to two years and three months jail.
Zhu, a former vice-president of Hanlong Mining, was found guilty of using inside information to reap more than $371,000 from illegal trades which took place between December 2006 and July 2011.
The illegal trades occurred during Zhu's investment banking career at two firms, Caliburn Partnership and Credit Suisse, and later as an executive of Hanlong Mining.
Zhu was ordered to serve a minimum of 15 months, pending good behaviour in prison.
In making the order, Justice Peter Hall took into consideration Mr Zhu's early guilty plea and his high level of co-operation with the Australian Securities and Investments Commission, whose eight-month investigation - part of the multi-agency taskforce Project Wickenby - led to Zhu's arrest.
During the trial, the court heard Mr Zhu, during his time at Hanlong Mining, traded in shares and contracts for difference of Sundance Resources, and another Hanlong takeover target, Bannerman Resources, with former and current executives including Hanlong's former managing director Steven Xiao.
Millions were made in the trades, with the profits sent offshore to accounts in Hong Kong. Xiao failed to return to Australia, and authorities have conceded that he has fled the jurisdiction.
But Justice Hall said he was impressed with Zhu's behaviour during the trial, believing he showed "genuine remorse and contrition". He also acknowledged Zhu was a family man with a young child and wife whom was expecting to deliver her second child in July. But there seemed to be only a remote chance Zhu would reoffend, Justice Hall said.
Zhu, who was led away by two officers of the court, took one last look at a member of his family, whom was later seen crying and hugging a member of Zhu's legal team.
Call 1300 880 160
Start a chat
Schedule a call
