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 From Hong Kong's Information Services Department
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December 16, 2009
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Courts
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4 convicted of insider dealing
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The Insider Dealing Tribunal has found four people to have engaged in insider dealing in its inquiry into the dealings in Harbour Ring International Holdings.

 

They are Sammy Tse, Debbie Ng, Charles Chong and Becky Chong. Tse and Ng have been disqualified from being a director of or a manager of a listed company for six months while the disqualification period for the rest is three months.

 

Each must pay $441,431 to the Government as their share of the inquiry expenses. Debbie Ng, Charles Chong and Becky Chong must also pay to the Government the profit gained from the insider dealing. For Ng it amounts to $20,366,982. For Charles Chong it amounts to $25,560,473. For Becky Chong, it is $44,296,905.

 

The tribunal also submitted a report on its inquiry in relation to the listed securities of Founder Holdings. It concluded its findings by unanimous decision insider dealing had not been established in respect of Julie Kennel, Cheung Shuen-lung, Cheung Siu-lung, Albert Yip, the Peking University Founder Group Corporation or Super Highway Limited.

 

Click here for the summary of the tribunal's report.