HONG KONG — The former chairman of the Hong Kong Stock Exchange, its chief executive officer and one other top exchange official were arrested Saturday by this British colony's chief anti-corruption agency.
The Independent Commission Against Corruption said that former Chairman Ronald Li; Jeffrey Hon-kuen Sun, the exchange's chief executive officer; and Donald Tak-hung Tsang, head of the exchange's listing department, were arrested under Hong Kong's prevention-of-bribery ordinance in connection with an investigation into the operation of the stock exchange.
The commission statement gave no details.
Li relinquished the exchange chairmanship when his two-year term expired last month and is now a vice chairman.
Closed Exchange 4 Days
His decision to close the exchange for four days during the world stock market crash last October led to calls for his resignation. The 58-year-old former chairman was instrumental in merging four exchanges into the current Hong Kong Stock Exchange two years ago.
A commission statement later Saturday said the three men were released on bail as an investigation continues, adding that Li posted bail of 10 million Hong Kong dollars ($1.28 million), Sun 4 million Hong Kong dollars ($512,800), and Tsang 30,000 Hong Kong dollars ($3,850).