HongKong

Co-founder of Hong Kong scrap metal firm gets seven years over scam that rocked stock exchange




A co-founder of a delisted Hong Kong scrap metal company was sentenced to seven years’ jail on Thursday over a scheme that saw hundreds of bogus transactions manufactured to get listed on the city’s stock exchange a decade ago.China Metal Recycling (Holdings) co-founder Lai Wun-yin, convicted of one count of conspiracy to defraud by a jury in December, committed the worst crime of its kind, one that damaged the exchange’s credibility, Mr Justice Lee Wan-tang said as he passed sentence in the…



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