On 20 March 2024, HK SFC said Yeung has been sentenced to 18 months in prison for securities fraud; Magistrate Mr. Jeffrey Sze Cho Yiu emphasized severity of the offense.

Background

• HK SFC said Yeung pleaded guilty to securities fraud involving illegal short selling in proceedings.
• The case marks the first criminal conviction of securities fraud via illegal short selling.
• HK SFC reminds intermediaries of their obligation to implement measures to comply with the short selling requirements; aware of red flags indicating illegal short selling