MIT Sloan School Grad, Fidelity Manager Accused of Insider trading in Hong Kong

Fidelity Management’s Portfolio Manager, MIT Sloan Grad and former Putnam Manager in Boston, George Stairs has been accused by Hong Kong’s financial secretary of insider trading relating to shares of Chaoda Modern Agriculture Holdings Ltd, a Chinese vegetable and fruit supplier. The allegation is that Chairman of Chaoda Kwok Ho and the company’s CFO Andy Chan tipped Stairs about a June 2009 shares placement three days before it was publicly announced. He is accused of using that info to trade. Stairs graduated from the Sloan School of Management at MIT in 1985.