Former Hong Kong commodities exchange chief charged with conspiracy to defraud regulator

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Prominent businessman Barry Cheung, who founded the now-defunct Hong Kong Mercantile Exchange, appeared in a Hong Kong court on Thursday charged with conspiracy to defraud the securities regulator and fraud.

Cheung, 59, who served under former Hong Kong leader Leung Chun-ying’s government, was charged with conspiring to conceal the true financial position of the exchange from the Securities and Futures Commission (SFC) and causing or permitting false information to be supplied to the commission.

He is also charged with intent to defraud a company out of HK$30 million ($3.8 million).

Read the original article here: reuters.com


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