Key facts
- A 26-year-old trader was arrested in Hong Kong on July 20.
- The trader is accused of using HK$50 million from corporate accounts without authorization.
- The unauthorized investments allegedly resulted in paper losses of HK$150 million.
- The investments reportedly included the CSOP SK Hynix Daily 2x Leveraged Product ETF (07709.HK).
Hong Kong police arrested a 26-year-old trader on July 20, following accusations from a company director that he misused HK$50 million ($6.38 million) from corporate accounts. The director claims the trader made unauthorized investments that resulted in paper losses of HK$150 million.
The trader was detained in World-Wide House in Hong Kong's Central district, a building known to house securities firms. Among the alleged investments was the CSOP SK Hynix Daily 2x Leveraged Product, an exchange-traded fund listed in Hong Kong under the ticker 07709.HK.