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SFC commences criminal prosecution against Zeng Lingxi for obstruction of search operation

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The Securities and Futures Commission (SFC) has commenced criminal proceedings at the Eastern Magistrates’ Court against Ms Zeng Lingxi for obstructing employees of the SFC in the execution of a search warrant and in exercising the powers under the Securities and Futures Ordinance (SFO) during a search operation in May 2020 (Notes 1 & 2).

The search warrant was executed at an office premises in relation to an ongoing investigation of possible market manipulation of the shares of a Hong Kong-listed company.

The Court adjourned the case to 30 September 2020 for mention.

Zeng continues to be on cash bail of $1,000.  She is not allowed to leave Hong Kong and has to reside at the address given in the summonses.

The SFC would like to acknowledge the assistance of the Hong Kong Police Force and the Hong Kong Fire Services Department in the execution of the search warrant.

End

Notes:

  1. Under section 382 of the SFO, a person who, without reasonable excuse, obstructs any specified person in the performance of a function under the SFO commits an offence.  Under the SFO, a specified person includes the SFC and its employees or any person appointed to investigate any matter under section 182(1) of the SFO.
  2. Under section 191(2)(a) of the SFO, a person specified in, or a police officer or any other person authorized by, a warrant issued under section 191(1), may require any person on the premises specified in the warrant whom he has reasonable cause to believe to be employed in connection with a business which is, or which has been, conducted on the premises to produce for examination any record or document which is in the possession of the person and which he has reasonable cause to believe may be required to be produced.  Under section 191(6)(b), a person commits an offence if he obstructs a person exercising a power conferred by subsection (2).

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Regulator Information

Abbreviation: SFC
Jurisdiction: Hong Kong

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