Ex-Convoy Global Executive Directors and broker’s general manager charged with fraud


Lucrative Pips Corporation charged with fraud, fined more than $2 million

Hong Kong regulator SFC has announced earlier today that the ICAC has just charged five other individuals with conspiracy to defraud.

This news comes right after the ICAC charged Mr Cho Kwai Chee, a former executive director of Convoy Global Holdings Limited (Convoy Global), formerly known as Convoy Financial Holdings Limited, with conspiracy to defraud in May 2019.

Ms Chan Lai Yee and Mr Byron Tan Ye Kai, both former executive directors of Convoy Global, were charged by the ICAC with conspiring with Cho to defraud the Stock Exchange of Hong Kong Limited (SEHK), Convoy Global and its board of directors and shareholders between 1 April 2016 and 7 December 2017 by causing Convoy Global’s subsidiary to acquire an investment company owned by Cho at a consideration of over $89 million.

The SFC will continue to collaborate with the ICAC on this matter.

The official announcement can be seen here.

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Ex-Convoy Global Executive Directors and broker’s general manager charged with fraud

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