Citic Securities yesterday confirmed that its Hong Kong office was searched and an employee was questioned over alleged bribery on March 10, following a similar confirmation by Guotai Junan International. Executives at two securities firms allegedly accepted over HKD4 million (USD511,000) in bribes to leak confidential information, enabling a hedge fund to bag HKD315 million (USD40 million) with insider trading, according to Hong Kong's anti-corruption watchdog ICAC.
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