Star Fund Manager Said to Be Detained Outside Shanghai

(Beijing) – The well-known manager of a privately offered fund has been detained on suspicion of insider trading and manipulating stock prices on November 1, the official Xinhua News Agency reports.

Xu Xiang, the founder and general manager of Zexi Investment in Shanghai, was being investigated for "illegally obtaining inside information about the stock market and manipulating prices," the Ministry of Public Security said.