{"id":9416,"date":"2025-02-02T09:46:24","date_gmt":"2025-02-02T09:46:24","guid":{"rendered":"https:\/\/finderica.com\/?p=9416"},"modified":"2025-02-02T09:46:24","modified_gmt":"2025-02-02T09:46:24","slug":"segantii-founder-simon-sadler-pleads-not-guilty-to-insider-dealing-in-hong-kong","status":"publish","type":"post","link":"https:\/\/finderica.com\/?p=9416","title":{"rendered":"Segantii founder Simon Sadler pleads not guilty to insider dealing in Hong Kong"},"content":{"rendered":"
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Unlock the Editor\u2019s Digest for free<\/p>\n<\/div>\n

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Simon Sadler, founder of hedge fund Segantii Capital Management, pleaded not guilty to insider dealing on Thursday in one of Hong Kong\u2019s most high-profile financial criminal cases.<\/p>\n

His former colleague Daniel La Rocca and the hedge fund itself also pleaded not guilty. They are charged with trading on inside information in relation to retailer Esprit\u2019s securities in 2017. If convicted, Sadler and La Rocca could face a maximum prison sentence of seven years.<\/p>\n

District judge Kwok Wai-kin set the trial date for May 4 2026, allocating 25 days for proceedings. A pretrial review hearing is expected to be held on December 4 2025.<\/p>\n

A lawyer for the prosecution said there were four prosecution witnesses expected, including one market expert. Sadler and La Rocca did not speak during the hearing.\u00a0<\/p>\n

The judge also extended the defendants\u2019 bail until the December hearing.<\/p>\n

Sadler, 55, who is from Blackpool in north-west England, founded Segantii in 2007 and built it into one of Asia\u2019s most well-known hedge funds, with $6bn under management at its peak. He is the owner of Blackpool Football Club, which he bought in 2019.<\/p>\n

The fund has started winding down operations and returning capital to investors after Hong Kong\u2019s Securities and Futures Commission announced its criminal investigation in May.<\/p>\n

Segantii was one of the most powerful participants in the market for block trades, a lucrative corner of finance in which banks arrange to offload large chunks of shares privately. Such sales can depress a company\u2019s stock price.<\/p>\n

The hedge fund was a prolific buyer of blocks and had built strong relationships with Wall Street\u2019s biggest banks. But in 2022, the Financial Times reported that Bank of America and Citigroup had suspended equity trading with Segantii due to concerns about its bets on block sales.\u00a0<\/p>\n

Segantii has previously said it \u201cintends to defend itself vigorously against the charge\u201d.<\/p>\n<\/div>\n

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Unlock the Editor\u2019s Digest for free Simon Sadler, founder of hedge fund Segantii Capital Management, pleaded not guilty to insider dealing on Thursday in one of Hong Kong\u2019s most high-profile financial criminal cases. His former colleague Daniel La Rocca and the hedge fund itself also pleaded not guilty. They are charged with trading on inside<\/p>\n","protected":false},"author":2,"featured_media":9417,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[206],"tags":[1275,382,461,1630,153,1631,782,3612,3610,3611],"class_list":{"0":"post-9416","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-financial-crime","8":"tag-dealing","9":"tag-founder","10":"tag-guilty","11":"tag-hong","12":"tag-insider","13":"tag-kong","14":"tag-pleads","15":"tag-sadler","16":"tag-segantii","17":"tag-simon"},"_links":{"self":[{"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/posts\/9416","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9416"}],"version-history":[{"count":0,"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/posts\/9416\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/media\/9417"}],"wp:attachment":[{"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9416"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9416"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9416"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}