Du Jun, former managing director of Morgan Stanley has been sent behind the bars for seven years by a Hong Kong court for insider trading. Du Jun has also been ordered to pay a fine of HK$23.3 million.

41-year old Du Jun was found to have reaped HK$33.4 million from trading stock in a Chinese state-owned investment firm while advising it on the acquisition of a Kazakhstan oil field.

Du Jun purchased stock of $11 million in Citic Resources, which is the arm of China's largest state-owned investment company, Citic Group and sold half of the stock for the profit of $4.3 million after the deal was announced.

Judge Andrew Chan described the Du Jun's insider trades as "unprecedented."

Du Jun was also convicted for advising his wife to deal in shares of Citic resources.

Du Jun's conviction is the 10th for insider trading since March 2009.