The Eastern Magistrates’ Court today sentenced Ms Christine Yeung Tak Sum, a retail trader, to 18 months of imprisonment following her conviction for securities fraud involving illegal short selling in a prosecution brought by the Securities and Futures Commission (SFC).
This is the first case where an individual was convicted for the offence of employing a fraudulent or deceptive scheme with intent to defraud in transactions involving securities under section 300 of the Securities and Futures Ordinance in the context of illegal short selling.
In sentencing, Magistrate Mr Jeffrey Sze Cho Yiu remarked on the serious nature of the offence, the premeditation in the commission of the offence and a significant amount of illicit profits involved. The Magistrate concluded that taking into account these factors and the importance of upholding Hong Kong’s status as an international…
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