The $1.14 Million Trade That Sparked Hong Kong’s Segantii Insider Trading Trial

In the closely knit financial community of Hong Kong, major criminal cases are both rare and closely watched.

That’s put a spotlight on the trial of Segantii Capital Management — once one of Asia’s top hedge funds — as well as its founder, Simon Sadler, and a former employee. They are accused of using confidential inside information about a planned block trade in 2017 to sell shares in fashion chain Esprit Holdings Ltd. All three have pleaded not guilty.