Provision of false or misleading to SFC during its investigation is a serious offence under S.184 of SFO, but yet some market professionals have recklessly taken this risk.
Last year SFC revoked the licence of Mr Ng Ting Shag and banned him from re-entering the industry for life for stealing clients’ securities, giving false information to the SFC and conspiring to pervert the course of public justice.
Ng admitted that he had stolen his clients’ securities by forging their signatures on transfer forms, or using transfer forms pre-signed by the clients. On one occasion, Ng concealed the theft by giving forged copies of share certificates to his client and retaining the original certificates to facilitate the misappropriation.
Ng further admitted that he had conspired with another person to induce a complainant to withdraw her complaints against him and lie to the SFC during its enquiries.
During SFC’s investigation, Ng was represented by a solicitor, Ms Ha Pon Lin, Emily. As the investigation progressed, SFC became suspicious that Ha and Ng had invented a story and lied to cover up the suspected thefts. Subsequently SFC referred the case to ICAC.
In criminal proceedings brought by ICAC, Ha was convicted on one count of conspiracy to pervert the course of justice and sentenced today to 12 months' imprisonment. Ng was also convicted on one count of conspiracy to pervert the course of justice and several counts of theft and sentenced to 14 months' imprisonment.
How come a solicitor could be so unwise to act like this?
Defence and makin up things are two sides of the same token.
ReplyDeleteIt depends on your (or the litigator's) skills and luck.