David Li, chairman and CEO of family-owned Bank of East Asia, has paid an $8.1 million civil penalty to the US Securities and Exchange Commission to settle an insider trading case.
In May 2007 the SEC launched charges against Li and three other individuals for illegal tipping and trading in the securities of Dow Jones & Company in the weeks before the public disclosure of an unsolicited acquisition offer by News Corporation. The amount paid by all four individuals totals $24 million.
