Two Face Chinese E-Commerce Insider Trading Charges

The U.S. Securities and Exchange Commission announced insider trading charges against two Beijing residents, alleging they purchased stock options ahead of Chinese e-commerce company 58.com’s purchase of a $1.6 billion minority stake in rival Ganji.com. The regulator said a court had granted its request to freeze assets in the U.S. brokerage accounts of Xia Xiaoyu and Hu Yanting.