The Securities and Futures Commission reported that the District Court has scheduled the trial of Chan Hoi Shing and Li Po Ching to begin on Aug. 23, 2027, after both pleaded not guilty to securities fraud charges under section 300 of the Securities and Futures Ordinance. The prosecution alleges that from May 27 to Dec. 29, 2020, the defendants falsely represented that Chan held enough shares in 28 companies to support sell orders placed through his account at Black Marble Securities Limited, enabling illegal short selling that generated about HKD 11 million in profit. Both defendants remain on bail subject to travel restrictions, regular police reporting, residence requirements and cash bail of HKD 200,000 for Chan and HKD 84,000 for Li.
2026-09-04Hong Kong Securities & Futures Commission
Hong Kong Securities and Futures Commission reports August 2027 trial for alleged illegal short selling that generated HKD 11 million
The District Court will begin the trial of Chan Hoi Shing and Li Po Ching on Aug. 23, 2027, after they pleaded not guilty to securities fraud charges. The Securities and Futures Commission alleges that they used false shareholding representations to conduct illegal short selling in 28 companies, generating about HKD 11 million.