Deals
How a Smooth Talker Convinced Bankers to Invest $32 Million, Then Vanished
- Citi, Morgan Stanley bankers burned by GMF cash-advance firm
- Directors unreachable; police probe possible misappropriation
The American Club's Country Club in the Tai Tam area.
Photographer: Anthony Kwan/BloombergThis article is for subscribers only.
Inside Hong Kong’s posh American Club, few worked a room quite like Avery Stone.
Over steak dinners and cigars, Stone charmed a Who’s Who of financiers into investing millions in his fledgling business. Then, earlier this year, everything unraveled--and he vanished.