Legal proceedings have been launched in Hong Kong
Blackpool Football Club owner Simon Sadler has appeared in court in Hong Kong to face allegations of insider trading. Mr Sadler founded the hedge fund, Segantii Capital Management, in 2007 and is its chief investment officer. Hong Kong’s Securities and Futures Commission , an independent regulatory body linked to the government, has started criminal proceedings against Segantii, Mr Sadler and former trader Daniel La Rocca.
' Both men were released pending the next hearing on conditions including bail of $1m Hong Kong dollars for Mr Sadler. The SFC said no further comment would be made now that legal proceedings have commenced. Simon Sadler was announced as the owner of Blackpool FC in June 2019. He was born and raised in Blackpool, and has been a lifelong fan of the club having watched his first game at Bloomfield Road in 1977 at the age of eight.
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