The SFC has obtained court orders against Mr. Tse On Kin, the former chairman of Kong Sun Holdings Limited and China Sandi Holdings Limited. Tse admitted to fraudulently obtaining a secret profit from a share placement in Kong Sun and China Sandi. As a result, he has been disqualified from being a director or involved in the management of any corporation in Hong Kong for 10 years, without the court’s permission. Additionally, Tse has been ordered to pay Kong Sun $2,185,784.1 in compensation and cover the SFC’s costs. The court orders were made after Tse admitted to defalcation, fraud, and misfeasance towards Kong Sun and China Sandi.
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