The stock markets in China have been shooting up lately. But the “Stock King” — well, he hath fallen.

A former high-level Chinese official — once nicknamed “Stock King” for his involvement in the markets — was sentenced Wednesday to life in prison for corruption and insider trading.

Chen Shulong, former vice governor of China’s Anhui province, took advantages of his various positions in government and at financial institutions from 1994 to 2016, and illegally acquired bribes worth of about 300 million yuan ($44.70 million), the Intermediate People's Court of Xiamen said.

Chen was also found guilty of “insider trading.” When serving as the vice governor of Anhui, Chen “intentionally” leaked listed companies' confidential information, and guided others to stock trades, the court said.

Prior to the Chen’s arrest in 2016, he was referred to as Anhui’s “Stock King (股神)” by people who were familiar with his often successful investments, though officials are not formally allowed to participate in investment activities related to their positions. (Incidentally, “Stock King” is also the nickname Chinese people use when referring to legendary investor Warren Buffett.)

The court ordered Chen to pay a fine of 170 million yuan as well. Chen said during the trial that he would not appeal.

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