Morgan Stanley Banker Arrested

Du Jun, a former Morgan Stanley banker, was charged with insider trading dealing. He allegedly bought $11 million in shares of Citic Resources Holdings while advising it on buying an oil field in Kazakhstan, according to The Wall Street Journal.

The Securities and Exchange Commission said in a statement that Du Jun was arrested at Hong Kong’s airport on Thursday.

He appeared in court and was freed on bail. Du Jun worked in Morgan Stanley’s sales-and-trading division and was reportedly dismissed, according to the WSJ.

Du is accused of purchasing 26.7 million shares of Citic Resources from February 15 to April 30, 2007.

Du is also alleged to have advised his wife, Li Xin, to deal in Citic Resources shares in February 2007. She has not been charged with any wrongdoing.