SFC bans Chan Wai Chun for life

enforcement

The party involved the former Customer Relationship Manager of Dah Sing Bank Limited (DSB).

On March 2021, Mr Chan was able to help an elderly customer maximize her profits. Upon assessing the customer, Chan persuaded the customer to redeem her investment from one fund and reinvest it into another fund to generate a higher interest yield. 

However, it was found that

  1. Chan prepared the documents required to redeem the customer’s bond, and then the client signed it.
  2. Chan never invested in any new fund for the customer.
  3. Chan transferred $1,195,000 from the customer’s account to his account for the payment of his own loan.

Therefore, after an investigation by the court and SFC, Chan was convicted of one count of fraud, contrary to section 16A of the Theft Ordinance at the District Court and was sentenced to two years and eight months imprisonment on 25 July 2022. And the SFC banned him from being licensed or registered to carry on regulated activities in future.

resource: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=23PR8

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