Tam Sze Leung & others v Commissioner of Police

Justice Russell Coleman finds that the issue of "letters of no consent" by the Police to "informally" freeze bank funds of persons under investigation is ultra vires and unconstitutional. The proceedings reveal that the SFC is investigating the applicants for suspected stock market manipulation in a pump-and-dump scheme between 2018 and 2020. The SFC referred a suspicion of money-laundering to the Police, which then asked 3 banks to file Suspicious Transaction Reports in order to trigger LNCs. The tail was wagging the dog.

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