Hong Kong’s Securities and Futures Commission has obtained an interim injunction from the Court of First Instance against a suspected manipulator of Eggriculture Foods Limited shares, seeking to preserve assets in connection with section 213 proceedings under the Securities and Futures Ordinance. The order prohibits the suspect from disposing of, dealing with, diminishing the value of, or removing from Hong Kong assets held in certain securities and bank accounts up to around HKD 62.6 million. The SFC alleges the manipulation occurred between 7 September 2018 and 5 November 2018, and the injunction is intended to ensure funds remain available to meet any potential court order if contraventions are established. The injunction remains in force until the section 213 proceedings are determined or the Court makes a further order. In parallel, the suspect is one of five defendants in related criminal proceedings concerning an alleged sophisticated ramp-and-dump manipulation, with trial scheduled to begin in the District Court on 13 July 2026.
Hong Kong Securities & Futures Commission 2025-12-02
Hong Kong Securities and Futures Commission secures interim injunction freezing up to HKD 62.6 million linked to suspected Eggriculture share manipulation
The Hong Kong Securities and Futures Commission (SFC) secured an interim injunction against a suspected manipulator of Eggriculture Foods Limited shares, preserving assets up to HKD 62.6 million under section 213 proceedings of the Securities and Futures Ordinance. The injunction ensures funds for potential court orders related to alleged manipulation between September and November 2018. The suspect is also involved in related criminal proceedings, with a trial set for July 2026.