Nerico Brothers Limited (HK)
SFC bans Lam Ching Chiu and Wong Siu Fung for 5 years
| Reasons for sentence
SFC, 6-Feb-2024
This follows their conviction for corruption in Aug-2022. They received suspended jail terms on 8-Sep-2022 after the judge criticised the ICAC and Department of Justice for the long delay in bringing the prosecution. They were first arrested in Sep-2016 but not charged until Aug-2021.
SFC, 6-Feb-2024
This follows their conviction for corruption in Aug-2022. They received suspended jail terms on 8-Sep-2022 after the judge criticised the ICAC and Department of Justice for the long delay in bringing the prosecution. They were first arrested in Sep-2016 but not charged until Aug-2021.
Ex-securities brokers guilty of bribing computer company staff over trading programme service
| Reasons for verdict
ICAC, 29-Aug-2022
ICAC, 29-Aug-2022
Winding up of Nerico Brothers Ltd
HK Court of First Instance, 19-May-2022
The petitioner, Target Insurance Co Ltd, is owed over US$154m (HK$1203m). The petitioner is owned by Target Insurance (Holdings) Ltd (6161), the shares of which have been suspended from trading since 5-Jan-2022. The amount represents about 188% of the group's net assets at 30-Jun-2021. Nerico says it has been trying to recover the money from "Four Dimensions Global Strategy Fund".
HK Court of First Instance, 19-May-2022
The petitioner, Target Insurance Co Ltd, is owed over US$154m (HK$1203m). The petitioner is owned by Target Insurance (Holdings) Ltd (6161), the shares of which have been suspended from trading since 5-Jan-2022. The amount represents about 188% of the group's net assets at 30-Jun-2021. Nerico says it has been trying to recover the money from "Four Dimensions Global Strategy Fund".
Target Insurance Co Ltd v Mr Ng Yu & others
HK Court of First Instance, 13-May-2022
The plaintiff, now under managers appointed by the Insurance Authority, alleges a "massive fraud perpetuated" (sic) by Mr Ng Yu and Jerff Lee Cheuk Fung and that Mr Ng is the "central figure in the fraudulent scheme". Mr Ng is Chairman of both Target Insurance (Holdings) Ltd (6161) and Amber Hill Finance (0033). The insurer deposited funds with Nerico Brothers Ltd which were allegedly "dissipated to various corporate vehicles owned by" Mr Ng, including Neo Tech Inc and Amber Hill Capital Ltd.
HK Court of First Instance, 13-May-2022
The plaintiff, now under managers appointed by the Insurance Authority, alleges a "massive fraud perpetuated" (sic) by Mr Ng Yu and Jerff Lee Cheuk Fung and that Mr Ng is the "central figure in the fraudulent scheme". Mr Ng is Chairman of both Target Insurance (Holdings) Ltd (6161) and Amber Hill Finance (0033). The insurer deposited funds with Nerico Brothers Ltd which were allegedly "dissipated to various corporate vehicles owned by" Mr Ng, including Neo Tech Inc and Amber Hill Capital Ltd.
Securities brokers charged with bribery for arranging clients to use trading programme
ICAC, 4-Aug-2021
The brokerage changed its name to "Nerico Brothers Limited" 2 years ago.
ICAC, 4-Aug-2021
The brokerage changed its name to "Nerico Brothers Limited" 2 years ago.
So Yue Bun v Glory Sky Global Markets Ltd
HK Court of Appeal, 15-Mar-2016
Mr So is granted leave to file an amended statement of claim after his earlier claim was struck out.
HK Court of Appeal, 15-Mar-2016
Mr So is granted leave to file an amended statement of claim after his earlier claim was struck out.
So Yue Bun v Glory Sky Global Markets Ltd
HK Court of First Instance, 22-Sep-2015
Judge Conrad Seagroatt calls the Statement of Claim "rambling, disordered, incoherent and, in some respects, unintelligible". He says it "verges on the insulting to the court" and, reaching for the thesaurus, is "contumelious". He strikes it out. We note that the plaintiff was once a licensed representative of the 1st defendant, for leveraged foreign exchange trading from 2005 to 2008.
HK Court of First Instance, 22-Sep-2015
Judge Conrad Seagroatt calls the Statement of Claim "rambling, disordered, incoherent and, in some respects, unintelligible". He says it "verges on the insulting to the court" and, reaching for the thesaurus, is "contumelious". He strikes it out. We note that the plaintiff was once a licensed representative of the 1st defendant, for leveraged foreign exchange trading from 2005 to 2008.
SFC bans Lee Wai Keung, ex-Glory Sky Global Markets, for 12 months
SFC, 11-Dec-2014
He traded through his sister-in-law's account for 6 years.
SFC, 11-Dec-2014
He traded through his sister-in-law's account for 6 years.
High Court upholds conviction of unlicensed leveraged foreign exchange trader
| Judgment
SFC, 10-May-2010
SFC, 10-May-2010
Mr Chau Lap Cheung & Mr Alan Chung Wai Wa fined for unlicensed dealings in leveraged forex trading
SFC, 7-Sep-2009
SFC, 7-Sep-2009
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