The District Court has fixed the trial for Mr Chan Hoi Shing and Mr Li Po Ching starting from 23 August 2027 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, when in fact he did not. Consequently, they were able to carry out illegal short selling in the shares of these companies and made a profit of around $11 million.
Chan and Li have been granted bail pending trial on the following conditions: (i) not to leave Hong Kong; (ii) surrender all travel documents; (iii) report regularly to a police station; (iv) cash bail in the respective amounts of $200,000 and $84,000; and (v) reside at their reported residential addresses and inform the Police of any change to their residential addresses.
Note:
- Please see the SFC’s press releases dated 6 November 2025 and 20 March 2026.
