Hedge Fund Loses Bid to Block Quant Fraudster's Deportation
- Ke Xu convicted of stealing trading algorithms from Trenchant
- Firm wanted Xu in U.K. until August to protect trading secrets
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A London hedge-fund analyst convicted of stealing millions of pounds of secret algorithmic trading strategies can’t be stopped from being deported by his former employer, Trenchant Ltd., a judge ruled.
In what Judge Michael Supperstone called an “unusual case,” he dismissed the firm’s application for judicial review of the U.K. Home Office’s decision to deport Ke Xu, a Chinese national. The U.K. made "a deportation order against a foreign criminal on the grounds his deportation is conducive to the public good," while Xu wishes to return to China, the judge said.