Hong Kong arrests 15 over 1,200% surge in shares of Next Digital

Hong Kong’s police force said it arrested 15 people in connection to last month’s surge in shares of Next Digital, the media company owned by vocal government critic Jimmy Lai.

The arrests were made on suspicion of the use of illegal funds and conspiracy to defraud, Chung Wing-man, chief superintendent of the lnarcotics bureau said. The people, who made a combined profit of about HK$38 million ($4.9 million), traded a high volume of Next Digital shares and the police have reason to doubt their source of income, Chung said. Police said one of the people had links to organised crime, and