Corporate Crime

Ex-UBS trader gets seven-year jail term for US$2.3b fraud

21 Nov 2012

Former UBS trader Kweku Adoboli was convicted and sentenced to seven years in jail yesterday for the biggest fraud in British history, which resulted in US$2.3 billion loss for the Swiss bank.

HSBC likely to face criminal charges for money laundering

6 Nov 2012

HSBC Holdings, Europe's largest bank by market value, said yesterday it was likely to face criminal charges stemming from US anti-money laundering investigations. It said the cost of a settlement...

Tycoon Nadir told to pay back £5m or serve six more years in jail

4 Nov 2012

A British judge ordered jailed tycoon Asil Nadir to pay back £5 million (HK$62.3 million) of the £29 million he stole from his Polly Peck business empire or serve an extra six years in prison.

UBS ex-trader Kweku Adoboli's tears in the dock

27 Oct 2012

Former UBS trader Kweku Adoboli wept yesterday as he told a jury that his "off-book trades" were done for the benefit of a bank that meant everything to him.

The week explained: Asil Nadir

10 Sep 2012

I have been thinking quite a bit about Asil Nadir lately.

Opinion

Wang Xiangwei

Super ministries may not be the right answer for mainland China

Alex Lo

Church developers remain unbowed by government rules

George Chen

A house is not a home until it becomes affordable

China Sky One sued by US SEC over fake sales

China Sky One Medical (CSKI) and its top executives have been sued by the US Securities and Exchange Commission over claims they inflated revenue by about US$20 million with fake sales of a weight...

HK$175m offer to take over suspended Titan

Guangdong Zhenrong Energy, a unit of state-owned commodities trader Zhuhai Zhenrong, has offered to pay HK$175 million to take over debt-troubled fuel trading and logistics firm Titan...

Anti-graft brochure has much to say

A brochure on resisting corruption, which the Zhejiang Higher People's Court sent to all judges in the province this week, is significant - but not necessarily for the reason its authors intended...

Disclosure law means bosses face HK$8m fine

Lawmakers have approved controversial legislation requiring Hong Kong-listed companies and their senior executives to disclose price-sensitive information in a timely manner or face a fine of up...

Bad legislation underpins court's support for the SFC

In a landmark ruling, a Hong Kong court yesterday backed the securities watchdog's efforts to make US-based hedge fund Tiger Asia Management cough up the profit it made from alleged insider...

Judge backs S.F.C. over Tiger Asia

In a landmark ruling, a Hong Kong court yesterday backed the securities watchdog's efforts to make US-based hedge fund Tiger Asia Management cough up the profit it made from alleged insider...