Hong Kong Securities And Futures Commission: District Court Set Trial Date For Sophisticated Ramp-And-Dump Syndicate

The District Court trial of Mr Stevens Yip Chi Fai, Ms So Lung Ying, Mr Lau Ka Wing and Ms Chan Sin Ying, key members of an alleged sophisticated ramp-and-dump syndicate will begin on 14 September 2026.

The criminal proceedings arose from an investigation by the Securities and Futures Commission (SFC).

The trial date was fixed at today’s hearing after the four defendants pleaded not guilty to the charge of conspiracy to employ a scheme with intent to defraud or deceive in securities transactions under the Securities and Futures Ordinance (SFO) and the Crimes Ordinance (Notes 1 and 2). 

Bail pending trial was granted to Yip, So, Lau and Chan under the same conditions. The conditions include: (i) not to leave Hong Kong; (ii) surrender all travel documents; (iii) cash bail of $500,000, $50,000, $400,000 and $400,000 respectively; and (iv) reside at the reported residential address and inform the Police in advance of any changes to residential address.

Notes:

1. Please see the SFC’s press releases dated 3 August 2023, 29 January 2024, 8 February 2024, 27 February 2024, 25 April 2024 and  4 October 2024.
2. Section 300 of the SFO and sections 159A and 159C of the Crimes Ordinance.