Chan was suspected to have conspired with Stevens Yip Chi Fai, Lau Ka Wing, So Lung Ying and others in an alleged ramp-and-dump scheme involving shares in Wan Cheng Metal Packaging Company Limited. Yip, Lau and So were previously charged with the same offence as Chan and the proceedings against them are ongoing.
In an update released on Oct 4, the Securities and Futures Commission (SFC) announced that they have charged a ramp-and-dump scheme core suspect who was arrested in Singapore and surrendered to Hong Kong.
Chan Sin Ying, a 33-year-old Hong Kong resident, was brought to court on Oct 4 and charged with the offence of conspiracy to employ a scheme with intent to defraud or deceive in transactions involving securities under section 300 of the Securities and Future Ordinance (SFO) and sections 159A and 159C of the Crimes Ordinance (Note 1).
