The Eastern Magistrates’ Court today convicted Mr Wong King Hoi after he pleaded guilty to a charge of obstructing employees of the Securities and Futures Commission (SFC) in the execution of a search warrant (Note 1).

The Court was told that, in October 2021, the SFC obtained a search warrant to search for, seize and remove from Wong’s residence records and documents relating to the SFC’s investigation into suspected market manipulation of the shares of a Hong Kong-listed company.  When the SFC executed the search warrant at Wong’s residence, Wong allegedly delayed in giving the SFC search team access to his residence and attempted to dispose of four objects including two mobile phones and two notebooks.

Wong was remanded in custody pending sentence on 10 November 2022.

The SFC’s investigation is ongoing.

End

Note:

  1. Under section 382 of the SFO, a person who, without reasonable excuse, obstructs any specified person in the performance of a function under the SFO commits an offence and is liable (a) on conviction on indictment to a fine of $1,000,000 and to imprisonment for 2 years; or (b) on summary conviction to a fine of $100,000 and to imprisonment for 6 months.  Under the SFO, a specified person includes the SFC and its employees or any person appointed to investigate any matter under section 182(1) of the SFO.
Source: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/enforcement-news/doc?refNo=22PR85 

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