Hong Kong SFC Applies for Court Order to Freeze $50 Million (HKD 394 Million) Assets of 16 Defendants Involved in Suspected Share Manipulation of Previously Hong Kong-Listed Grand Talents from 2021 to 2022
1st October | Hong Kong
The Hong Kong Securities and Futures Commission (SFC) has applied for a Hong Kong court order to freeze $50 million (HKD 394 million) assets of 16 defendants involved in suspected share manipulation of previously Hong Kong-Listed Grand Talents from 2021 to 2022. Hong Kong SFC (30/9/25): “The Securities and Futures Commission (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 social media ramp-and-dump case involving the shares of Grand Talents Group Holdings Limited (Grand Talents) (Application). This Application is part of the SFC’s legal proceedings under section 213 of the Securities and Futures Ordinance against 16 defendants, including the suspected masterminds, for allegedly manipulating the shares of Grand Talents between June 2021 and June 2022 (Note 1). In this Application, the SFC is seeking to restrain the 16 defendants from disposing of their assets in Hong Kong up to $394,067,589, representing the estimated loss suffered by the affected investors as a result of the alleged market misconduct. The Court has thus far granted an interim injunction order against four of the 16 defendants as sought by the SFC. The interim injunction order against these four defendants will remain in force until further order of the Court (Note 2). As for the other 12 defendants, the Court has provided further directions and adjourned the Application to a date to be fixed. The SFC will not make any further comments as the legal proceedings are ongoing.”
“ Hong Kong SFC Applies for Court Order to Freeze $50 Million (HKD 394 Million) Assets of 16 Defendants Involved in Suspected Share Manipulation of Previously Hong Kong-Listed Grand Talents from 2021 to 2022 “
![](https://www.caproasia.com/wp-content/uploads/2025/08/Air-Charter-Service-728x90-1.png")
Notes:
- Grand Talents was listed on GEM of the Stock Exchange of Hong Kong Limited on 15 October 2018.
- These four defendants are restrained from disposing of assets up to $394 million under the interim injunction order granted by the Court.
Hong Kong SFC Applies for Court Order to Freeze $50 Million (HKD 394 Million) Assets of 16 Defendants Involved in Suspected Share Manipulation of Previously Hong Kong-Listed Grand Talents from 2021 to 2022
Caproasia Users
- Manage $20 million to $30 billion of assets
- Invest $3 million to $300 million
- Advise institutions, billionaires, UHNWs & HNWs
Caproasia Platforms | 11,000 Investors & Advisors
- Caproasia.com
- Caproasia Access
- Caproasia Events
- The Financial Centre | Find Services
- Membership
- Family Office Circle
- Professional Investor Circle
- Investor Relations Network
Monthly Roundtable & Networking
Family Office Programs
The 2026 Investment Day
- March - Hong Kong
- March - Singapore
- April - Hong Kong
- April - Singapore
- July - Hong Kong
- July - Singapore
- Sept- Hong Kong
- Sept - Singapore
- Oct- Hong Kong
- Nov - Singapore
- Visit: The Investment Day | Register: Click here
Caproasia Summits
- The Institutional Investor Summit
- The Investment / Alternatives Summit
- The Private Wealth Summit
- The Family Office Summit
- The CEO & Entrepreneur Summit
- The Capital Markets Summit
- The ESG / Sustainable Investment Summit
