China Arrests Three High Frequency Traders For "Destabilizing The Market And Profiting From Volatility"

From zerohedge.com

Last night we reported the shocking news that none other than "China's Carl Icahn" (or its "Warren Buffett" depending on the news source), Xu Xiang - who has ranked China's 188th richest man with $2.2 billion in net worth according to the Hurun rich list - had been arrested in what was the latest crackdown against "malicious short sellers", with Bloomberg adding that Shanghai police raided hedge fund Zexi Investment on Sunday, taking away computers and other materials, "in the latest attempt by Chinese authorities to crack down on strategies blamed for exacerbating a $5 trillion stock-market rout." According to ... (full story)