In Depth: How a Detained Stock Trader Played with Fire

(Beijing) – A fund manager known as China's Carl Icahn for profiting handsomely from the nation's volatile stock exchanges has become the latest target of a government crackdown against illegal trading tied to last summer's market meltdown.

Xu Xiang, the 39-year-old founder and general manager of a Shanghai-based asset management firm called Zexi Investment, has been detained for "illegally obtaining inside information about the stock market and manipulating prices," the official Xinhua News Agency said on November 1, quoting police.