On 4 September 2026, the District Court set a trial date for Mr Chan Hoi Shing and Mr Li Po Ching after they pleaded not guilty to charges of securities fraud involving illegal short selling under section 300 of the Securities and Futures Ordinance (SFO).
- the allegation is that between 27 May 2020 and 29 December 2020, Chan and Li falsely represented that Chan held sufficient shares of the 28 companies to support sell orders placed through Chan’s securities account at Black Marble Securities Limited;
- thus they were able to carry out illegal short selling and made a profit of around $11 million;
- bail has been granted pending trial;
- trial set for 23 August 2027.