HK Probes Two Listed Companies Over Suspected Misconduct, Fraud

Hong Kong authorities conducted a joint operation involving two Hong Kong-listed companies on suspicion that they falsified corporate transactions totaling HK$193 million ($24.7 million), according to an emailed statement.

• The authorities are the Accounting and Financial Reporting Council, the Independent Commission Against Corruption and the Securities and Futures Commission
• The operation involved a search of the offices of three public interest entities auditors associated with two listed companies
• The search also covered the premises of these two listed companies and other relevant parties
• The investigation showed that the management of the two listed companies had allegedly conspired with members of ...