Three listed company senior executives have been arrested in a joint operation by the ICAC and the Securities and Futures Commission, said to be the first of its kind. The firms are under suspicion for having provided materially false, incomplete, or misleading information to investors.
In a statement, money lender Convoy Global says two of its executive directors were linked to the operation. It's also been reported that the company's vice chairwoman, Fong Sut-sam, has been helping with the ICAC probe. The company's executive directors include Cho Kwai-chee - who's the founder and deputy chairman of Town Health International Medical Group, which was ordered by the securities regulator to suspend trading last month.
Convoy Global is also the biggest shareholder of First Credit Finance Group, whose shares have also been suspended.