SFC obtains court order to freeze $6.35 billion of assets belonging to suspected manipulators of Ding Yi Feng shares

The Court of First Instance has issued an interim injunction against 11 individuals suspected of manipulating shares of Ding Yi Feng Holdings Group, following a case initiated by the Securities and Futures Commission (SFC). The order, which applies to actions taken between March and September 2018, prohibits these individuals from removing or diminishing the value of their assets in Hong Kong, totaling up to $6.35 billion. This measure aims to ensure sufficient assets are available for potential restoration orders if the court finds the individuals in violation of the Securities and Futures Ordinance. The injunction will remain in effect until further notice.

Resources: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=24PR178