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To: dvdw© who wrote (100693)5/21/2013 4:43:59 PM
From: Snowshoe  Read Replies (1) of 218544
 
TJ warned us about "paper gold"...

Irregularities Suspected at Hong Kong Mercantile Exchange
dealbook.nytimes.com

May 21, 2013,
4:01 p.m. | Updated

The Hong Kong securities regulator announced on Tuesday that it had discovered possible financial irregularities at the Hong Kong Mercantile Exchange and said it referred the matter over to the police for investigation.

The exchange ceased business over the weekend and has since wound down all open trading positions. The suspected irregularities were “serious ones,’’ Hong Kong’s Securities and Futures Commission said in a statement.

Barry Cheung, the chairman and controlling shareholder of the mercantile exchange, took an abrupt leave of absence Tuesday night from all public service positions, according to a statement issued by the office of the head of the Hong Kong government, Leung Chun-ying.
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