A Sydney man, Fei Yu, has pleaded guilty to insider trading in the NSW District Court. According to an ASIC media statement, Yu was given inside information about a proposed takeover of Veda by Pacific Equity Partners and invested approximately A$35,000 in Veda shares and contracts for differences, netting more than $20,000 in profit from the trades in 2007.  The source of the inside information was a close friend of his, Bo Shi Zhu, at Caliburn Partnership (now Greenhill & Co) who were advising Veda on the proposed takeover. The matter has been adjourned until 21 July 2016 for a sentencing hearing, when a second charge will also be considered.