The Eastern Magistrates’ Court sentenced Ms. Lai Ka Yi to two weeks in prison and ordered her to pay $98,000 in compensation for conducting unlicensed securities activities. This marks the first immediate jail sentence for such an offense under the Securities and Futures Ordinance. Between April and May 2018, Lai, a university student, misled a personal acquaintance into transferring funds for investment, resulting in significant losses for the victim. Lai plans to appeal her conviction and sentence while being granted bail. The Securities and Futures Commission (SFC) advises the public to verify licenses of securities dealers through their official register.
Resources: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=24PR185
