Hong Kong regulator secures 13-year bans for China Candy executives for accounting fraud

hk.on.cc (Chinese)

Hong Kong's securities regulator secured 13-year disqualification orders against three former China Candy Holdings executives for accounting fraud that inflated reported cash by up to 97%. Former chairman Xu Jinpei, ex-CEO Hong Yinzhi, and ex-finance chief Wang Zhihong are barred from serving as directors or managers of Hong Kong corporations for 13 years. The court found their 2016 reports overstated cash by RMB38.1 million and RMB43.48 million — 87% and 97%. The fraud employed fictitious deposits, unrecorded transactions, and forged bank documents to mislead auditors. The ruling concludes the SFC's proceedings against the company's former leadership.


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Hong Kong regulator secures 13-year bans for China Candy executives for accounting fraud | News Minimalist