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(Updated) Alpari's Shanghai offices possibly raided, people arrested

Jul
16
2009
Posted by Michael Greenberg in Brokers
5 Comments

Fresh from the rumour mill: Shanghai Public Security Bureau raids Alpari’s representative offices in Shanghai, arrests people.

This might be a similar scenario to what has happened to Gain Capital back in 2007 when it ‘suddenly’ close its China subsidiary. Sometimes pissing off the authorities backfires.

These are the only details known right now, will keep you updated once more is known. Nothing has been officially published so handle with care.

Update: please read the comment below to see Alpari’s confirmation that an investigation is ongoing but nobody was arrested. What the investigation is exactly about is unclear.

5 Comments on this post

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  1. Alpari (UK) said:

    Further to rumours circulated today, we can confirm that Alpari (UK)’s Shanghai Representative Office has been assisting the Shanghai Public Security Bureau in the course of an ongoing investigation.

    No members of staff have been arrested and all meetings with the Shanghai PSB have taken place on an informal basis only.

    Alpari (UK) has no plans to close its Shanghai Representative Office and we will continue to work in close cooperation with all relevant authorities as always.

    Karl Yin
    Alpari (UK)
    Shanghai Representative Office

    July 16th, 2009 at 4:00 pm
  2. Towntalk said:

    This case is ongoing and the UK office is planning to close that office.

    July 21st, 2009 at 6:33 pm
  3. lemon said:

    I am one of the Alpari Shanghai Representative Office’s guests, why did’t you give us the detail ? and is it true that the UK office is planning to close that office.? Thank u!

    July 25th, 2009 at 9:13 am
  4. Beatles said:

    I am hearing it was a customer not liking losing money and going crazy at Alpari?!

    So now it’s over I think the company is OK and will stay. I will keep with it right now because I have not seen any problems for myself.

    July 29th, 2009 at 9:56 pm
  5. Kenny said:

    The first commenter claimed as Alpari (UK) – Shanghai Representative Office.

    As far as I know, Alpari don’t have any Representative License in China — that one that claimed to be Shanghai Representative Office is actually an Introducing Broker (IB). If there are a Shanghai Representative Office and Alpari UK claimed it is, where is the registration at? Fraudulent information trying to deceive the public.

    August 13th, 2009 at 5:41 am
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