The Market Misconduct Tribunal (MMT) has sanctioned Ms. Choi Ban Yee and her husband, chauffeur Mr. Sit Yuk Yin, for insider trading in Asiasec Properties Limited (formerly Dan Form Holdings). Choi must disgorge $106,968 in illicit profits made from trading shares based on insider information related to a takeover announcement. Both Choi and Sit received 16-month cold shoulder orders, cease and desist orders, and were ordered to pay government costs. The tribunal found that Sit had insider information about the takeover before it was publicly announced and encouraged Choi to buy shares. Ongoing proceedings involve a former company secretary and another individual linked to the case.
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