Wednesday, May 09, 2007

Well connected Couple in HK suspected of insider-trading in the Murdoch bidding to Dow Jones

Drama is always in the real life. Today, U.S. SEC filed a lawsuit towards a well-connected couple in Hong Kong of insider trading. (WSJ did a good story on this, but u could also have a look on the Reuters story. Anyone need the WSJ story, please send me ur email, I will forward to you)

Several big individual and company names appeared in the drama-like process happend between April 13 and April 30, the day before the Murdoch bidding was annouced.

Hong Kong businessman Michael Leung Kai Hung, a good friend of David Li

Dow Jones director,David Li, chairman and chief executive of the Bank of East Asia Ltd.,
Hong Kong's largest locally owned banking group.

China Mobile Peoples Telephone Co. Ltd., a mobile-phone operator in
Hong Kong

Is the US$8 million that attractive?

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