The Hong Kong (SFC) Capital Markets Committee (SFC) has applied for an order from the first court to freeze assets intended for compensation for investors affected by a refined ramp and waste case.
This application is part of the legal procedures of SFC in accordance with Article 213 of the SFO Decree (SFO) for six people, including suspicious ringleaders, to handle Eggggriculture Foods shares between August and November 2018.
Specifically, the application is filed by the SFC to contain the disposal of the assets of one of the suspicious ringleaders up to the value of $ 62,566,773, which represent the estimated damage suffered by the affected investors resulting from the alleged misconduct of the market.
The Court has held the first hearing on the SFC application today and provided further instructions, including the effective hearing of the application to be postponed to a date to be set.
At the same time, a criminal proceedings will begin at the Regional Court on July 13, 2026, where five of the six people involved in the aforementioned legal proceedings were also accused of various criminal offenses for the same alleged breach of the market.