On 9 February 2026, HK SFC convicted masterminds for securities fraud re listed firms.
- HK SFC sentenced Mr. Li King Hong and Mr. Lam Hin Fai to up to 24 months jail, in a securities fraud case involving the shares of four Hong Kong-listed companies.
- Their spouses, Ms. Chan Ngai See and Ms. Betty Hui Pui Yan, were also sentenced to community service.
- HK SFC uncovered their involvement in ramp-and-dump schemes promoted on social media.
Case Background and Findings
- Li and Lam directed their wives to deceive an account executive at CVP Securities Limited (CVP) on nine occasions.
- They falsely represented ownership of shares in four Hong Kong-listed companies with the intent to defraud, inducing CVP to place sell orders.
- The defendants engaged in naked short selling for profit making based on information from "WeChat teachers", earning HKD 3.3mn in profits.
- HK SFC found evidence of fraudulent activities and referred the case to the Police for a joint operation.
