Hong Kong’s Securities and Futures Commission (SFC) announced that the Eastern Magistrates’ Courts convicted Mr Lin Tai Fung and his brother-in-law, Mr Or Chun Nin, after they pleaded guilty to conspiracy to commit false trading in the shares of Pa Shun International Holdings Limited in a prosecution brought by the SFC. Lin was also convicted after pleading guilty to failing to notify The Stock Exchange of Hong Kong Limited (SEHK) of changes in his interest in Pa Shun shares. The false trading conspiracy covered trading from 9 April 2017 to 7 March 2018, with Lin and Or purchasing Pa Shun shares to maintain the closing share price at or above a certain level. Separately, Lin’s trading triggered disclosure obligations on eight occasions between 2 June 2017 and 14 March 2018, but he had not made the required disclosures to SEHK and Pa Shun. Sentencing was adjourned to 10 June 2025. The defendants were granted bail on conditions including cash bail of HKD 20,000 and a surety of HKD 50,000.
Hong Kong Securities & Futures Commission 2025-05-15
Hong Kong Securities and Futures Commission secures guilty-plea convictions for false trading in Pa Shun International shares and related disclosure breaches
Hong Kong's Securities and Futures Commission announced the conviction of Mr. Lin Tai Fung and Mr. Or Chun Nin for conspiracy to commit false trading in Pa Shun International Holdings Limited shares. Lin was also convicted for failing to notify The Stock Exchange of Hong Kong Limited of changes in his share interest. Sentencing is scheduled for 10 June 2025, with bail set at HKD 20,000 and a surety of HKD 50,000.