Former Hanlong Exec Wanted On Australian Insider Trading Charges Arrested In Hong Kong

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Former Hanlong Group executive Steven Xiao has been apprehended in Hong Kong, after fleeing Australia in 2011 following his arrest on insider trading charges.

According to a News Corp Australia report Xioa appeared in Hong Kong’s Eastern Magistrates Court this morning. ASIC now has 45 days to bring its action against him.

Reportedly Xiao went on the run in 2011 after a court granted him permission to make a two day trip to China.

He was part of a syndicate of Hanlong executives implicated in insider trading involving the company’s takeover bids for Sundance Resources and Bannerman Resources.

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