The Eastern Magistrates Court today set 19 March 2012 for the start of the criminal trial of former senior executive of CITIC Pacific Limited (CITIC Pacific) Mr Chui Wing Nin, who the Securities and Futures Commission (SFC) accuses of insider dealing.
Acting Principal Magistrate Mr Gary Lam Kar-yan set the trial down for seven days.
Chui pleaded not guilty on 25 August 2011 to two counts of insider dealing.
The SFC alleges Chui sold a total of 81,000 shares of CITIC Pacific on 9 and 12 September 2008 whilst in possession of confidential, price sensitive information about CITIC Pacific’s foreign exchange losses before they were disclosed to the market. He is alleged to have avoided a notional loss of about $1.36 million (Note 1).
Chui continues to be on cash bail of $50,000.
Note:
1. Please see SFC’s press release dated 25 August 2011.
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Hong Kong Court Sets Date For Insider Dealing Trial Of Former CITIC Pacific Senior Executive
Date 20/10/2011
