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China fund manager arrested after market crash admits to manipulation

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Published Tue, Dec 6, 2016 · 09:50 PM

DeeperDive is a beta AI feature. Refer to full articles for the facts.

Shanghai

A WELL-KNOWN Chinese hedge fund manager detained last year in a crackdown on financial crimes in the wake of a stock market crash has pleaded guilty to manipulating the market, according to the court where he is standing trial.

Xu Xiang, general manager of Shanghai-based Zexi Investment, who earned nicknames like "Hedge Fund Brother No1" and "China's Carl Icahn" in local media, was detained in November 2015.

Market manipulation

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