Hedge Fund Analyst Jailed For Fraud

Michael Hick and Michael Attenborough successfully prosecuted Ke Xu for committing fraud whilst working as a quantitative analyst at a London hedge fund.  The court heard that Mr Xu was disappointed to receive a bonus of £400,000 in January 2014 and that he set about accessing extremely valuable code belonging to his employer.  Having accessed the code Mr Xu fled to Hong Kong intending to use it to make £1m or more.  He was arrested by Hong Kong police, extradited back to the UK and prosecuted at Southwark Crown Court.  He pleaded guilty to fraud by abuse of position and was sentenced to four years imprisonment.  The Financial Times  reported on the sentencing hearing.