Shipkevich Bitcoin and ICO Attorney
Felix Shipkevich January 6, 2011

The Eastern Magistrates Court of Hong Kong has convicted Investment fund promoter, Ms Kwok Sau Ping, for issuing documents in relation to a collective investment scheme without the authorization of the Securities and Futures Commission (SFC) and not disclosing interests in listed securities on time.

Acting Principal Magistrate Ms Amanda Jane Woodcock fined Kwok a total of $12,000 and ordered her to pay the SFC investigation costs of $ 80,000.

Kwok pleaded guilty to two summonses over the distribution of unauthorised documents concerning a collective investment scheme and two summonses over breaches of the shareholding disclosure requirements. The Court, however, found her to have Kwok held a series of public presentations to promote a collective investment scheme called Reliance China Hong Kong Opportunity Fund (Fund). Kwok conducted the presentations using Powerpoint slides, which were not authorized by the SFC. A total of 120 investors subscribed to the Fund.

The Court found that on 13 and 20 October 2007, Kwok held a series of public presentations to promote a collective investment scheme called Reliance China Hong Kong Opportunity Fund (Fund). Kwok conducted the presentations using Powerpoint slides, which were not authorized by the SFC. A total of 120 investors subscribed to the Fund.

(Source: http://www.sfc.hk/sfcPressRelease/EN/sfcOpenDocServlet?docno=11PR2)

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