-- Seven years after a fateful stock trade in Hong Kong, Segantii Capital Management Ltd. and its founder Simon Sadler will return to court on Wednesday to face insider dealing charges.Investment Bank Moelis Probes Incident After Video of Employee Appearing to Punch WomanThe criminal case centers around Segantii’s actions ahead of an unidentified block trade in June 2017. That block trade was the sale of a 10% stake in apparel retailer Esprit Holdings Ltd.
Greenwich, Connecticut-based Lone Pine sold 195.64 million Esprit shares at an average price of HK$4.68 apiece on June 15 of that year, according to a filing to the Hong Kong stock exchange that was posted about a week after the transaction. The hedge fund had been the largest shareholder of the retail chain more than a decade ago.
The legal arguments in the case could focus on what information was shared prior to the 2017 block trade, whether Segantii knew the size of the transaction, and whether Segantii traded improperly with material non-public information. Du’s case was transferred to Hong Kong’s District Court about two months after he was charged, and he was found guilty about a year later following a trial that lasted 38 days. He was sentenced to seven years in prison in 2009, before his jail term was reduced slightly to six years. In 2013, Du was ordered by a High Court judge to pay HK$24 million to compensate nearly 300 investors. He also received a lifetime ban from the industry.
Rebecca Grossman struck and killed two boys in 2020 as they were walking across a street at a crosswalk with their parentsBritish Columbia's securities watchdog and the RCMP say they have sent out warnings to nearly a dozen suspected "money mules" — people alleged to have transferred money on behalf of criminals.The B.C.
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