Sanction of China Ecotourism (1371) and 7 directors
SEHK, 25-Apr-2024
13 bad loans to 9 borrowers led to impairment of HK$473m, and a HK$35m purported investment in a blockchain startup was also fully impaired after the owner disappeared. Some of that money found it way into the bank account of Sha Tao, the husband of Donna Chan Tan Na, ex-Chairman and CEO of the company. Chan Shing, the ex-husband of ED Lau Ting was also allegedly involved. A slap on the wrists from the Stock Exchange doesn't go far enough - why haven't there been criminal charges?
機構
人物
SFC helps HKEX in investigation of China Ecotourism (1371) over dubious loans and investment
SFC
SFC, 25-Apr-2024
Comment: the toothless Exchange cannot fine or jail, it only handles breaches of Listing Rules. The SFC helped trace funds, but why isn't it taking civil action under SFO, or criminal prosecution via the Department of Justice, if needed?