Finance: A Foiled Getaway

A Foiled Getaway

Shortly after 6 p.m. last Thursday, police at Hong Kong International Airport seized a young man in a well-tailored business suit. He was, it turned out, no ordinary criminal, but one of Hong Kong's most prominent businessmen: Patrick C.T. Chang, 35, chairman of Overseas Trust Bank (OTB), the colony's fourth largest bank (deposits: $1.2 billion). Less than three hours before the arrest, the bank had suddenly closed down, declaring itself "insolvent."

Sir John Bremridge, Hong Kong's Financial Secretary, blamed the bank's collapse on "criminal dealings" by its senior management. Bremridge speculated that Chang has as much as $13 million stashed away...

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