Former Hanlong Executive Charged on Insider Trading
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A mining executive who fled Australia three years ago has been extradited from Hong Kong and charged with 104 insider trading offenses linked to planned takeovers by a Sichuan Hanlong Group unit.
Xiao Hui, also known as Steven Xiao, a former managing director of the unit, is accused of persuading his wife and other parties to acquire shares and securities in Bannerman Resources Ltd. and Sundance Resources Ltd. while he had information on takeover bids for the companies, according to Australia’s corporate regulator.