TV pundit arrested for stock tips
Print Edition
ZHU Weiming, a popular stock analyst, has been arrested for allegedly rigging the stock market.
Police said a suspect had touted certain stocks on local TV and then profited by selling his shares once their prices had soared.
Sources told Shanghai Daily that the suspect in question is Zhu Weiming, who had regularly appeared on CBN’s “Money Talk” program.
Police said the total volume of transactions from March 2013 to August 2014 of the stocks, run through three of the suspect’s relatives’ accounts, amounted to 40 million yuan (US$6 million), and he had made a profit of about 700,000 yuan.
China Securities Regulatory Commission, which banned Zhu from securities business for life last July, said he had “recommended” 10 stocks during the period concerned.
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