Chinese Police Arrest Hedge Fund Fugitive Zhu Yidong

[kreslik.news]

Chinese police, in cooperation with local authorities in an unnamed foreign country, have arrested Zhu Yidong, a $5 billion hedge fund manager who was charged with market manipulation by China’s securities regulator. Zhu fled the country in June after he defaulted on bank loans and promised payouts to investors.

China Central Television (CCTV) reported that Zhu was arrested late on Wednesday. However, the country that he fled to and where he was arrested is unknown. According to a report from the Financial Times, the China Securities Regulatory Commission (CSRC) ruled in July that he had manipulated the market and ... (read more)