Hong Kong Court Schedules Trial of Illegal Short Selling Securities Fraud by Christine Yeung Tak Sum in February & March 2024 after Pleading Not Guilty, Submitted False Settlement Instructions to Aristo Securities in 2020
9th November 2023 | Hong Kong
The Hong Kong Eastern Magistrates Court has scheduled the trial of illegal short selling securities fraud by Christine Yeung Tak Sum in February & March 2024 after pleading not guilty. Christine Yeung Tak Sum had submitted false settlement instructions to Aristo Securities in 2020. Hong Kong SFC: “Under sections 170(1) and (4) of the Securities and Futures Ordinance (SFO), it is an offence to sell securities at or through a recognised stock market unless he has a presently exercisable and unconditional right to vest the securities in the purchaser of them, or unless he believes and has reasonable grounds to believe that he has such a right. Under section 300 of the SFO, it is an offence to engage in any act, practice or course of business which is fraudulent or deceptive in a transaction involving securities.” More info below:
“ Hong Kong Court Schedules Trial of Illegal Short Selling Securities Fraud by Christine Yeung Tak Sum in February & March 2024 after Pleading Not Guilty, Submitted False Settlement Instructions to Aristo Securities in 2020 “
Hong Kong Court Schedules Trial of Illegal Short Selling Securities Fraud by Christine Yeung Tak Sum in February & March 2024 after Pleading Not Guilty
7th Nov 2023 – The Eastern Magistrates’ Court has fixed the trial of Ms Christine Yeung Tak Sum for 27 February 2024 to 5 March 2024 after she pleaded not guilty to employing a fraudulent scheme with intent to defraud in securities transactions and illegal short selling (Notes 1 & 2).
This is the first prosecution brought by the Securities and Futures Commission (SFC) in a case where a defendant is accused of employing a fraudulent scheme in securities transactions involving illegal short selling. The SFC alleges that, between 27 May 2020 and 28 May 2020, Yeung, together with other people unknown, employed a scheme to defraud or to deceive her broker Aristo Securities Limited by, inter alia, submitting a false settlement instructions form to it for her securities transactions. Yeung was granted bail pending trial.
Notes:
- Under sections 170(1) and (4) of the Securities and Futures Ordinance (SFO), it is an offence to sell securities at or through a recognised stock market unless he has a presently exercisable and unconditional right to vest the securities in the purchaser of them, or unless he believes and has reasonable grounds to believe that he has such a right.
- Under section 300 of the SFO, it is an offence to engage in any act, practice or course of business which is fraudulent or deceptive in a transaction involving securities.
Sign Up / Register
Caproasia Users
- Manage $20 million to $3 billion of assets
- Invest $3 million to $300 million
- Advise institutions, billionaires, UHNWs & HNWs
Caproasia Platforms | 11,000 Investors & Advisors
- Caproasia.com
- Caproasia Access
- Caproasia Events
- The Financial Centre | Find Services
- Membership
- Family Office Circle
- Professional Investor Circle
- Investor Relations Network
Monthly Roundtable & Networking
Family Office Programs
The 2024 Investment Day
- March 2024 - Hong Kong
- March 2024 - Singapore
- July 2024 - Hong Kong
- July 2024 - Singapore
- Sept 2024 - Hong Kong
- Sept 2024 - Singapore
- Oct 2024 - Hong Kong
- Nov 2024 - Singapore
- Visit: The Investment Day | Register: Click here
Caproasia Summits
- The Institutional Investor Summit
- The Investment / Alternatives Summit
- The Private Wealth Summit
- The Family Office Summit
- The CEO & Entrepreneur Summit
- The Capital Markets Summit
- The ESG / Sustainable Investment Summit
