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Hong Kong regulator freezes hedge fund assets

Reuters – The Hong Kong Securities and Futures Commission (SFC) said on Tuesday it had commenced proceedings against 11 defendants related to Descartes Athena Fund SPC, a hedge fund that the regulator is investigating for allegedly falsifying accounts after liquidating the fund.

The SFC said following an urgent application in the High Court by the SFC on Monday, the court appointed two administrators. It also granted an injunction order to freeze assets of up to $90.6 million in relation to two unnamed individuals.

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