Hong Kong Court Jails Individual 2 Weeks for Obstructing SFC Search Warrant for Stock Market Manipulation, Delayed Access to Residence & Disposed 2 Mobile Phones & 2 Notebooks
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Hong Kong Court Jails Individual 2 Weeks for Obstructing SFC Search Warrant for Stock Market Manipulation, Delayed Access to Residence & Disposed 2 Mobile Phones & 2 Notebooks
11th November 2022 | Hong Kong
A Hong Kong court has jailed an individual 2 weeks (Wong King Hoi) for obstructing Hong Kong Securities & Futures Commission (SFC) search warrant for a stock market manipulation investigation, delaying access to his (Wong King Hoi) residence and attempted to disposed 2 mobile phones & 2 notebooks (October 2021).The individual Wong King Hoi has also been ordered to pay Hong Kong SFC for the investigation cost (Search warrant obstruction).Hong Kong SFC: “This is the first case that a person is convicted for obstructing the SFC’s employees in performance of their functions empowered under the SFO.Christopher Wilson, SFC Executive Director of Enforcement: “We welcome the court’s decision. Today’s sentence sends a strong and clear message that the obstruction is a significant impairment to the SFC’s lawful duty. It is a serious offence if a person who wilfully obstructs the SFC officers to perform their duties and the SFC is determined to take legal actions against those offenders”. The Hong Kong SFC investigation on the stock market manipulation is still ongoing.
“ Hong Kong Court Jails Individual 2 Weeks for Obstructing SFC Search Warrant for Stock Market Manipulation, Delayed Access to Residence & Disposed 2 Mobile Phones & 2 Notebooks “
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Hong Kong SFC Obstruction
Hong Kong, Asia’s leading financial centre
Under section 382 of the SFO, a person who, without reasonable excuse, obstructs any specified person in the performance of a function under the SFO commits an offence and is liable (a) on conviction on indictment to a fine of $1,000,000 and to imprisonment for 2 years; or (b) on summary conviction to a fine of $100,000 and to imprisonment for 6 months. Under the SFO, a specified person includes the SFC and its employees or any person appointed to investigate any matter under section 182(1) of the SFO.
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