Hong Kong’s Securities and Futures Commission (SFC) announced that the District Court has fixed trial dates for three alleged sophisticated ramp-and-dump cases involving the shares of Eggriculture Foods Limited, Fullwealth Construction Holdings Company Limited and KNT Holdings Limited. The trials are scheduled to begin on 13 July 2026, 30 November 2026 and 6 April 2027, after all 19 defendants pleaded not guilty to charges of suspected securities-related fraud and money laundering. The criminal proceedings followed joint investigations by the SFC and the Police. The defendants face charges of conspiracy to defraud and conspiracy to employ a scheme with intent to defraud or deceive in securities transactions under common law, the Securities and Futures Ordinance (including section 300) and the Crimes Ordinance (including sections 159A and 159C), and or money laundering under the Organized and Serious Crimes Ordinance (including sections 25(1) and 25(3)). All defendants were granted bail pending trial, subject to conditions including cash and sureties ranging from HKD 50,000 to HKD 1 million, restrictions on leaving Hong Kong, surrender of travel documents, regular reporting to a police station, and residency and address-notification requirements.
Hong Kong Securities & Futures Commission 2025-03-25
Hong Kong Securities and Futures Commission reports District Court sets 2026-27 trial dates for Eggriculture Foods, Fullwealth Construction and KNT alleged ramp-and-dump cases
The Hong Kong Securities and Futures Commission announced trial dates for three alleged ramp-and-dump cases involving Eggriculture Foods Limited, Fullwealth Construction Holdings Company Limited, and KNT Holdings Limited, with trials set for 2026 and 2027. Nineteen defendants, who pleaded not guilty, face charges of conspiracy to defraud and money laundering following joint investigations by the SFC and Police. All defendants were granted bail with conditions including cash sureties and travel restrictions.