Hong Kong police today said they have arrested 12 people for allegedly running a “ramp and dump” stock scam in a series of raids targeting homes in swanky neighbourhoods.
At a press briefing today, authorities said seven men and five women were being held on market manipulation, money laundering and fraud charges. Some of those arrested allegedly posed as investment gurus offering tips and insider information to victims in both Hong Kong and mainland China.“Our estimate is there is a large number of victims but many of those victims might not want to come forward because they might feel embarrassed about being duped in this way,” SFC chief executive Ashley Alder told reporters.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hong Kong police arrest 12 over ‘ramp and dump’ stock scam | Malay MailHONG KONG, March 5 — Hong Kong police today said they have arrested 12 people for allegedly running a “ramp and dump” stock scam in a series of raids targeting homes in swanky neighbourhoods. The joint investigation with the city’s Securities and Futures Commission (SFC) led to the freezing...
Source: malaymail - 🏆 1. / 86 Read more »
Hong Kong arrests 12, seizes US$116mil after stock scamHONG KONG (Bloomberg) -- Hong Kong police arrested 12 people for running alleged 'ramp and dump” stock scams and over money laundering after raids on luxury homes and brokerages across the city.
Source: staronline - 🏆 4. / 75 Read more »
Hong Kong independence activist jailed 12 years over explosives labPolice said they uncovered a homemade explosives laboratory alongside around 1kg of TATP. FMTNews HongKong
Source: fmtoday - 🏆 5. / 72 Read more »
Mah Sing Healthcare aims to list on Hong Kong stock exchange in five years | Malay MailKLANG, April 22 — Mah Sing Group Bhd aims to list its glove manufacturing and trading arm, Mah Sing Healthcare Sdn Bhd, on the Hong Kong Stock Exchange within five years. Founder and group managing director Tan Sri Leong Hoy Kum said the company wanted to drive value creation for its...
Source: malaymail - 🏆 1. / 86 Read more »
Hong Kong journalist convicted over public database searches | Malay MailHONG KONG, April 22— An award-winning Hong Kong journalist was found guilty today of improperly searching a public vehicle licence database to help track down the perpetrators of an attack on democracy supporters by government loyalists. The conviction of Bao Choy, a producer with public...
Source: malaymail - 🏆 1. / 86 Read more »