Court-appointed administrators have distributed $19 million in assets to clients of Hong Kong Wan Kiu Investment Company Limited following legal proceedings and approval by the Court of First Instance in 2025. The distribution came after the company's director was found guilty of misappropriating client funds and sentenced to community service.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
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On July 23, 2025, court-appointed administrators distributed $19 million of assets to clients of Hong Kong Wan Kiu Investment Company Limited following approval from the Court of First Instance in January 2025. This distribution occurred following the final reliefs granted by the court in November 2022, which included a restoration order and appointment of administrators. Legal proceedings initiated by the Securities and Futures Commission ("SFC") under section 213 of the Securities and Futures Ordinance ("SFO") revealed that HKWK sold client securities without authorization, misappropriated sales proceeds, and falsified client statements to conceal these transactions. The SFC's investigation led to criminal proceedings against the company's director, Connie Sham Khi Rose. Rose pleaded guilty to misappropriating around $58 million worth of HKWK's client assets between 2011 and 2019. On 3 July 2025, she was sentenced to 160 hours of community service, considering her remorse and prior compensation to affected clients.
The SFC’s legal proceedings uncovered significant financial irregularities, resulting in the revocation of HKWK's licence in March 2024. HKWK was licensed under the SFO to carry on Type 1 (dealing in securities) regulated activity. The company’s director, Connie Sham Khi Rose, was responsible for various managerial and compliance roles. Rose’s criminal proceedings at the High Court were concluded, taking into account her remorse and prior compensation to victims. The SFC’s Executive Director of Enforcement, Mr Christopher Wilson, emphasized the commission's commitment to safeguarding market integrity and protecting investors.
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