China recycler principals arrested

Jul 31, 2013 | 04:39 PM | Sean Davidson

Tags  China Metal Recycling, Hong Kong regulator, Hong Kong Securities and Futures Commission, Chun Chi Wai, Leung Chong Shun, Lai Wun Yin, Kenneth Lam Po Kei, Glaucus Research Group Sean Davidson

NEW YORK — At least three people connected to a troubled Chinese scrap company have been arrested in the past week after Hong Kong’s financial watchdog moved to liquidate the recycler, AMM understands.

Hong Kong’s Securities and Futures Commission (SFC) started proceedings last week to wind up Hong Kong-based China Metal Recycling (Holdings) Ltd. on allegations that the company had overstated its operations and revenue (, July 29).....

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