B.C. regulator fines ex-chairman of TSX-listed China firm

Michael Hu must pay $1.5 million in British Columbia for illegal insider trading in Maple Leaf Reforestation Inc. Yet another TSX-listed company with operations in China is in the spotlight after its former Chairman Michael Hu was fined $1.5 million and severely reprimanded by the British Columbia Securities Commission (BCSC) for illegal insider trading and making false statements to investigators. A commission panel imposed the penalties after finding that Hu bought shares of Maple Leaf Reforestation Inc. (TSX: V.MPE, Stock Forum) in 2007 while in possession of undisclosed information about a biodiesel project that Maple Leaf was negotiating to acquire in the Xinjiang region of China.

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