At the Eastern Magistracy, two additional suspects, Ms. Wong Yin Ling and Ms. Tse Yi Kwan, were charged with money laundering offences for allegedly being part of a large-scale stock market manipulation syndicate that used “ramp-and-dump” tactics. This was after a joint operation between the Securities and Futures Commission (SFC) and the Police to investigate the syndicate. Ms. Tse Yiu Chung, who is another suspect and a family member of the two new suspects, was charged earlier. The case has been adjourned until October 4, 2023, and Wong and Tse were granted bail on certain conditions, which included cash bail of $800,000 and not leaving Hong Kong. The SFC and the Police have been investigating the syndicate’s activities, and the charges bring the total number of people charged to 24. As legal proceedings have begun, no further comments will be made.
resource: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=23PR38