In this article
Roy Cho Kwai Chee charged with conspiracy to defraud Convoy (1019)
| SFC announcement
2 years and 1 day after we published the "Enigma Network" report, the first charge is brought, relating to a relatively small and previously-unannounced acquisition by Convoy. 55% of the target was owned by Mr Cho. The ICAC alleges that he owned "50% shareholdings" in Convoy. He was not a disclosed shareholder, so to prove this, they will need to show that he was pulling the strings of numerous listed companies in the network which held the stock. Two co-conspirators are unnamed. We wait to see the rest of the iceberg.
- CONVOY COLLATERAL LIMITED
- Convoy Global Holdings Limited
- TRUE SURPLUS INTERNATIONAL INVESTMENT LIMITED