A Dan Form insider trading suspect ordered to give up over $100,000 of illegal gains

The Market Misconduct Tribunal ordered a participant in a suspected insider dealing related to Dan Form to forfeit the illegal earnings of over HK$100,000, the Securities and Futures Commission announced on Tuesday.

The order is against Choi Ban-yee, the wife of a chauffeur who worked for the family of the chairman of Tian An China Investments Company.

Choi was suspected of gaining HK$106,968 from insider dealing in the shares of Asiasec Properties (0271), formerly known as Dan Form Holdings Company, before a takeover involving the companies was announced in September 2016.

The MMT also imposed against Choi and the chauffeur, Sit Yuk-yin, cold shoulder orders for 16 months, cease and desist orders and an order to pay the costs and expenses incurred by the government and the SFC.

The MMT proceedings against the other two suspects, Dan Form’s former company secretary, Cynthia Chen Si-ying, and Wen Lide, who is related to Chen, are ongoing, SFC added.

STAFF REPORTER