Hong Kong financier Li linked to Dow Jones insider trading probe

0 Comments | AFP, May, 2007

HONG KONG (AFP) — One of Hong Kong's most powerful financiers, banker David Li, has been linked to an alleged insider trading probe surrounding a five billion dollar bid for financial news agency Dow Jones, a report said Wednesday.

Li, the chairman and chief executive of Bank of East Asia, Hong Kong's largest local bank, also sits on Dow Jones' board of directors, a key link which US investigators are understood to be now probing.

Li is expected to be questioned soon by American regulators, the online edition of the Wall Street Journal newspaper said.

The financier, a close personal friend of Hong Kong political leader Donald Tsang, denied giving information to a Hong Kong couple accused of buying a huge block of Dow Jones stock just before its share price...