Jan
23
China Gives ‘Hedge Fund Brother No.1’ 5 1/2 Years in Prison
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Xu Xiang was arrested after 2015’s stock market crash
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Xu colluded with top executives at 13 listed companies: court
China sentenced former hedge fund manager Xu Xiang to five-and-a-half years imprisonment for market manipulation, in one of the most high-profile cases following the 2015 market rout, a court in the eastern city of Qingdao said in its official Weibo account.
Xu, known as “hedge fund brother No. 1” for his winning record in the stock market, was charged with colluding to manipulate share prices in an operation from 2010 to 2015, the court said in a statement Monday. Wang Wei, another defendant that Xu collaborated with, was sentenced to three years in jail while Zhu Yong, a third, was given two years with a three-year reprieve on the same charges…
China Gives ‘Hedge Fund Brother No.1’ 5 1/2 Years in Prison
