The Hong Kong SFC bans CITIC former relationship manager

Source: LeapRate 2020-08-27

The Hong Kong regulator the Securities and Futures Commission (SFC) announced banning former relationship manager of China Citic Bank International Limited (CITIC) TS’O Jing for life.

TS’O was registered with the Hong Kong Monetary Authority (HKMA) in the period between etween 22 March 2016 and 7 March 2017, allowing him to act as a relevant individual engaged by CITIC.

The court found that from May 2016 to January 2017, during which time TS’O was responsible for handling customer account opening for CITIC, he made false representations to seven customers. He led them to believe there was an additional sum they had to pay the bank for their account opening applications.

TS’O gave the customers false receipts and the additional amount they paid went into his pocket.

Subsequently, TS’O was convicted of seven counts of fraud on 7 January 2019. On 21 January 2019, he was sentenced to six months imprisonment, he was also suspended for two years and was ordered to make restitution to the victims in the amount of $65,100.

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fraud

SFC

The Hong Kong SFC bans CITIC former relationship manager

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