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How a Smooth Talker Convinced Bankers to Invest $32 Million, Then Vanished

  • Citi, Morgan Stanley bankers burned by GMF cash-advance firm
  • Directors unreachable; police probe possible misappropriation
The American Club's Country Club in the Tai Tam area.

The American Club's Country Club in the Tai Tam area.

Photographer: Anthony Kwan/Bloomberg

Inside Hong Kong’s posh American Club, few worked a room quite like Avery Stone. 

Over steak dinners and cigars, Stone charmed a Who’s Who of financiers into investing millions in his fledgling business. Then, earlier this year, everything unraveled--and he vanished.