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Hong Kong Securities And Futures Commission Obtains Arrest Warrants For Alleged Manipulators Of Shares Of Ching Lee Holdings Limited

Date 31/08/2020

The Eastern Magistracy has issued arrest warrants for Mr Ho Ming Hin and Mr Simon Suen Man in an application brought by the Securities and Futures Commission (SFC) after they failed to appear in court to face the charge of conspiracy to carry out false trading in the shares of Ching Lee Holdings Limited (Ching Lee) (Note 1).

The SFC alleges that Ho and Suen, together with three other defendants, committed a criminal offence of conspiring to create a false or misleading appearance of active market in respect of the Ching Lee shares between 29 March 2016 and 7 September 2016.

The Court was told that Ho and Suen, who were some of the key members of the manipulation syndicate, had not returned to Hong Kong since March 2017 and July 2019, respectively, following the commencement of the SFC’s investigation (Note 2).

The Court granted bail to the other three defendants at the court hearing on 13 August 2020 and adjourned the case to 24 September 2020 as part of the procedure pending the next step for a committal to the Court of First Instance.   

Notes:

  1. Please see SFC press release dated 13 August 2020 for details.
  2. The SFC has added Ho and Suen to the list of individuals subject to arrest warrants under the “Have you seen these people?” on the SFC’s website.