Eight people have been arrested in a $454-million fraud probe in Hong Kong. Police announced the arrests Friday, a day after raiding 13 separate locations in the territory. Police spokeswoman Josephine Cheng says five men and three women have been detained on suspicion of conspiring to defraud the shareholders of two companies and 18 banks. Police say a initial investigation indicates that a number of senior staff at the two companies had falsified accounting records last year to secure bank loans totalling $128 million...

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