Landmark Hong Kong case sees three jailed for market manipulation

Hong Kong’s Court of First Instance decided on July 22 the sentences of Sit Yi-Ki, Tam Cheuk-Hang and Lam Wing-Ki, following a guilty verdict for the charge of conspiracy to carry out false trading in Ching Lee Holdings’ shares.

The decision comes after comprehensive investigations by the Hong Kong's Securities and Futures Commission SFC and prosecution proceedings from the Department of Justice. 

Lam was sentenced to four years and four months imprisonment, while Sit and Tam were both handed sentences of six years and eight months imprisonment. Hong Kong has not seen a higher sentence attached to market manipulation charges since the establishment of the Securities...