The activities lasted more than five months in 2016 and resulted in illicit profits of over HK$124 million ($21.36 million), according to the Securities and Futures Commission. One of the defendants received a four year and four month sentence.
A Hong Kong court sentenced two defendants to six years and eight months of prison time for market manipulation, the longest ever punishment for such an offense in the financial hub, according to the presiding judge.
The Hong Kong High Court announced the sentencing on Monday after convicting three defendants in May over false trading in the listed firm Ching Lee Holdings Ltd.
