Reported 5 months ago
The insider trading case against hedge fund Segantii Capital Management Ltd. and its founder Simon Sadler is being transferred to a higher Hong Kong court that can impose longer sentences for convictions, moving from the Magistrates' Court to the District Court, which can sentence up to seven years in prison compared to two to three years. The case involves insider dealing charges related to a 2017 block trade, with Sadler and another trader facing allegations. Prosecutors did not opt for the High Court, which can give even longer sentences, choosing the District Court instead. Segantii, a major hedge fund firm in Asia, intends to vigorously defend itself against the charges.
Source: YAHOO