Hedge Fund Tries to Block U.K. Quant Fraudster's Return to China
- Ke Xu convicted of stealing trading algorithms from Trenchant
- Firm demands Xu stay until August to protect trading secrets
The Tower Bridge is reflected in the glass window of an office building in London.
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A London hedge fund analyst convicted of stealing millions of pounds worth of secret algorithmic trading strategies shouldn’t be allowed to be deported from the U.K. in case he sells the data to rival firms in China, lawyers for Trenchant Ltd. said.
The U.K. ordered Ke Xu’s immediate deportation and has refused to delay his departure, leaving Trenchant open to "serious harm" when he returns home and is able to sell their trading secrets, the firm’s lawyers said when asking a London judge to review the government’s “unlawful” decision.