26 Feb 2021
SECURITIES AND FUTURES COMMISSION v. SHANDONG MOLONG PETROLEUM MACHINERY CO LTD AND OTHERS
- Citation
- [2021] HKCFI 497
- Court
- Court of First Instance
- Case number
- HCMP1094/2019
On the agreed facts the 6 Results Announcements for 2015–2016 were materially false and the senior officers knowingly participated in an inflation scheme; that conduct constituted fraud/misfeasance, failure to provide required information and was unfairly prejudicial under s214(1)(b),(c),(d) of the SFO; having applied the established bracket approach, weighed aggravating factors (dishonesty, magnitude, recurrence) and mitigating factors (cooperation, admissions, remedial steps), the court imposed disqualification periods of 9 years (R2,R4), 8 years (R3), 8 years (R5) and 7 years (R6–R8) and o…