(China’s) Carl Icahn Nailed For Insider Trading

Xu Xiang AKA "Big Xu" AKA the Carl Icahn of China knows what we're taking about.
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Hard to see the resemblance in this picture.

Uncle Carl’s eastern dopplegänger has proven himself unworthy of the comparison, at least in terms of escaping regulatory investigations unscathed.

The arrest on Sunday of the fund manager, Xu Xiang, nicknamed Big Xu, followed what could easily have been an American story line. He was apprehended near the exit of the 22-mile Hangzhou Bay Bridge in eastern China, and the highway patrol closed the bridge’s entrances and exits for more than half an hour….

Mr. Xu and his relatives have a combined fortune of $2.2 billion, according to the Shanghai-based Hurun Report, which tracks the wealth of China’s richest people. Online reports say he was born in 1976. Mr. Xu’s record of taking minority stakes in companies and pushing for shareholder rights, such as higher dividends, has earned him the comparison with Mr. Icahn in China’s financial press.

Chinese Manager of Highflying Funds Is Arrested in Insider Trading Case [NYT]

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