Man arrested for online rumours about Hong Kong bank's stability
12 hours ago
HONG KONG (AFP) — A Hong Kong man has been arrested for spreading rumours on the Internet
that one of the city's banks was in financial trouble and a run against it was likely, police said Sunday.
The 34-year-old was arrested after posting the accusation in an online forum calling on people to take out their deposits from the bank, Hong Kong police said in a statement.
Police would not reveal the name of the financial institution in the message linked to the man's arrest, but said it had nothing to do with the Bank of East Asia (BEA), the South China Morning Post reported.
BEA suffered a run from savers on Wednesday on the back of text message rumours that it was overexposed to assets backed by failed bank Lehman Brothers and troubled insurance giant AIG.
The man has been arrested on suspicion of accessing a computer with dishonest or criminal intent and could face up to five years in prison if convicted.
Police have arrested 11 people across the territory in the past week on suspicion of spreading rumours that AIG was about to sell its Asian subsidiary AIA Hong Kong