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HK SFC Seeks Court Order to Freeze Assets Worth $219M for Investors Compensation in Suspected Manipulation of KNT HOLDINGS Shrs
Recommend 5 Positive 9 Negative 4 |
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The Securities and Futures Commission of Hong Kong (SFC) has applied for an interim order from the Court of First Instance to freeze assets intended for compensation to affected investors in an alleged sophisticated ramp-and-dump scheme involving the shares of KNT HOLDINGS (01025.HK), as announced by the SFC. This application is part of the SFC's legal proceedings under section 213 of the Securities and Futures Ordinance (SFO) against 17 individuals (Defendants) for allegedly manipulating the shares of KNT HOLDINGS between February and May 2019. In this application, the SFC is seeking to restrain the five Defendants from disposing of their assets up to $219 million, representing the estimated loss suffered by the affected investors. AAStocks Financial News Website: www.aastocks.com |
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