Hong Kong Securities and Futures Commission: Involved in a false trade in PAX Global Technology Limited (00574.HK), the court ruled that the crime of false trade between relatives and siblings was established.

According to the latest news from the Wisdom Financial App, on May 15th, the Hong Kong Securities and Futures Commission announced that in a previous prosecution, Lam Taifeng (male) and his brother-in-law Ke Junnian (male) were accused of conspiring to engage in fraudulent trading of the shares of Baixin International Holdings Limited (Baixin) from April 9, 2017, to March 7, 2018. The Eastern District Court ruled that the two men were guilty after admitting to the charges. The court postponed the sentencing of the case until June 10, 2025. The two were granted bail, with the condition that they pay: (i) a bail bond of 20,000 yuan and (ii) a security deposit of 50,000 yuan.