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SFC: Court Orders 3 Defendants in Superb Summit Fraud Case to Compensate Firm $595M
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The court has ordered three former directors and senior executives of Superb Summit International (delisted) to compensate the company $5.95 billion for fraudulent schemes, as announced by the Securities and Futures Commission (SFC). The individuals involved include Yang Dongjun, a shadow director controlling a 22.6% stake in Superb Summit, Wu Tao, former executive director, and Chan King Chung, former chief financial officer and company secretary. The court also made disqualification orders for 15 years against Yang, and 12 years against Wu and Chan. The three were also ordered to pay the SFC's costs in the proceedings. AASTOCKS Financial News Website: www.aastocks.com |
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