OTHER NEWS - June 17, 1993

Former Hong Kong Exchange Chief Leaves Prison: Ronald Li, who ran the Hong Kong Stock Exchange “like a private club” until his downfall after the 1987 crash, was released into a fabulously wealthy retirement. Li, 63, who was arrested in early 1988 and later imprisoned for corruption, said his days as a market wheeler-dealer are over. In 1988, a list of the city’s richest people placed him third, and the Sunday Morning Post newspaper recently said his fortune was conservatively estimated at $385 million before he was sentenced. Since Li went to prison in October, 1990, the blue-chip Hang Seng Index has surged 145%. If his investments kept pace, the Post estimated, Li is now worth $960 million, having made $600,000 every day he spent in prison.