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Ex-Wing Hang Bank employee banned for life

Ho Wing Kin had misappropriated around HK$1.3 million from customers’ accounts.
Ex-Wing Hang Bank employee banned for life

Hong Kong’s securities regulator has banned Ho Wing Kin from re-entering the industry for life. This followed his conviction for misappropriating around HK$1.3 million ($167,000) from three customers’ accounts by forging their signatures while employed by Wing Hang Bank.

Prior to his being banned, Ho had been convicted of five charges of theft and, on August 10, 2011, was sentenced to imprisonment of 26 months.

In deciding the penalty, the Securities and Futures Commission says it “took into account that misappropriation and forgery are serious and dishonest acts”. The SFC concluded that Ho is not a fit and proper person to be licensed.

The victims in this case were elderly customers who have subsequently been compensated. The case was referred to the SFC by the Hong Kong Monetary Authority (HKMA). 

Ho was a relevant individual engaged by Wing Hang Bank at the time to carry on type 1 (dealing in securities) and type 9 (asset management) regulated activities. He is currently not registered with the HKMA or licensed by the SFC.

¬ Haymarket Media Limited. All rights reserved.
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