Daily Limit Death Squad Holdings in Eastern Gold Jade Frozen

Reuters: Eastern Gold Jade's 293.2 mln shares frozen by local authorities until Aug 4, 2018
Says company's 293.2 million shares held by Ruili Jingzhe Investment Management are frozen by local authorities until August 4, 2018

The case involves Xu Xiang.

SMH: The humiliating arrest of Xu Xiang, head of China's Ningbo Death Squad
As the founder of Zexi Investment, one of China's most successful hedge funds, Xu had consistently produced returns that were truly unbelievable: his worst-performing fund had grown by nearly 800 per cent in five years.

...For all the secrecy and intrigue that had long surrounded Xu, the moment of his downfall was strikingly prosaic. That evening, a photo of him appeared on the internet. Dressed in a white Armani coat, grey button-down shirt and rimless glasses, he is clean-shaven, with pudgy cheeks and a receding mop of unruly black hair. Someone out of frame is carefully pulling back the sleeve on Xu's coat, revealing the clasp of a handcuff around his wrist. It is the only known photograph of the man who, until that morning, had been the king of China's sharemarket.

...Xu's network grew along with his fame. By the late 1990s he had become the unofficial captain of a group of traders known as the Ningbo Death Squad. As the squad gained notoriety, other traders began to monitor the buy orders coming from the Galaxy trading hall: any stock they picked was guaranteed to attract attention, and a corresponding surge in buy orders. Profit was almost unavoidable.
A Caixin article on the stock freeze (东方金钰“暗仓”代持者或为徐翔死党之妻) refers to them as the "daily limit death squad", since they'd drive stocks limit up:
"Stock and not with the liberation of the south, that is, the gods in vain," said the late 1990s to the liberation of South Road, Ningbo, China Galaxy Securities Sales for the base camp of the "daily limit death squads." During a bear market, many stock dark horse had come out here. Their investment style sturdy, selected stocks by large, high drop from the high.

February 2003, "China Securities News" on the front page coverage of the "daily limit death squads", said the "battle group" composed by the four or five customers, for the same operational thinking and act in unison, with a total capital of about 1 more than one billion.
It sounds like the group may have been using hidden holdings to drive up shares. The entity in question holds 21.72 percent of Eastern Gold Jade shares.
QQ: 徐翔马甲马甲账户遭曝光 借道参与东方金钰定增

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