Four individuals were brought before the Eastern Magistracy on charges of fraud and illegal short selling today, following a joint operation by the SFC and the Police. The SFC, while investigating ramp-and-dump activities, discovered suspicious trading activities that led to the uncovering of suspected money laundering and other fraudulent activities that were subsequently referred to the Police for further investigation. The suspects were granted bail after paying a cash deposit and agreeing to several conditions, including remaining in Hong Kong, surrendering their travel documents, and regularly reporting to the police station. They are also prohibited from contacting any prosecution witnesses and must reside at a specific address, informing the police 24 hours before changing their residence. The District Court will take up the case on August 18, 2023, and no further comments will be made as legal proceedings have commenced.
Resuorce:https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=23PR67