Hong Kong Trader Arrested Over Alleged Rogue Trading Scheme

Hong Kong police arrested a 26-year-old trader on July 20 after a company director accused him of using HK$50 million ($6.38 million) from corporate accounts without authorization to make investments that generated paper losses of HK$150 million, according to the complainant.

The trader was detained on the fifth floor of World-Wide House in Hong Kong’s Central district, a building that houses several securities-related firms. His investments allegedly included the CSOP SK Hynix Daily 2x Leveraged Product, an exchange-traded fund listed in Hong Kong under ticker 07709.HK.