Suspected core members of sophisticated syndicate charged in ramp-and-dump case

enforcement

Mr. Stevens Yip Chi Fai and Ms. So Lung Ying, suspected core members of a large-scale syndicate involved in market manipulation, were charged at the Eastern Magistracy after an extensive investigation by the Securities and Futures Commission. They are accused of conspiring to defraud or deceive in securities transactions under section 300 of the Securities and Futures Ordinance and section 159A and 159C of the Crimes Ordinance, and the case has been adjourned until November 2, 2023. The Court granted them bail under certain conditions, including surrendering travel documents, regular reporting to the police, and providing cash bails. No further comments will be made due to the ongoing legal proceedings.

Resource: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=23PR85/

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