Deloitte2026-08-13 02:40:40Former Deloitte Hong Kong IT manager pleads guilty after selling 423 laptops and losing the proceeds in stock tradingA former information technology manager at Deloitte’s Hong Kong office has pleaded guilty to theft after admitting he sold hundreds of company laptops over roughly a year and a half, according to court details cited in the source report. The case involves 423 laptops and estimated proceeds of about HK$1.2 million. The defendant, Ho Man-kit, was remanded in custody and is scheduled to be sentenced on Aug. 21. Court materials cited by Hong Kong 01 show Ho began selling company laptop inventory in September 2021 to the head of a second-hand computer recycling business, with most transactions conducted in cash and a smaller portion settled by bank transfer. The buyer said Ho claimed the sales had been authorized by the company. Deloitte staff later discovered inventory discrepancies during a routine stock check on Feb. 13, 2023, and intercepted a box containing 10 Lenovo laptops that was being removed from the office. Bank records showed about HK$458,000 had been deposited into Ho’s account by the recycler. Police estimated total cash proceeds at around HK$1.2 million after including older devices sold without full records. Under caution, Ho said he suffered from a gambling addiction and had transferred almost all of the money into a Futu Securities account to trade stocks, where he ultimately lost it all.1640
Futu Securiti2026-07-27 13:49:24Futu and Tiger-linked options case expands to 310 accounts, with 8 traders making over $80 millionBlockBeats reported on July 27 that Futu Clearing, the U.S. clearing arm under Futu Securities, and TradeUP, the U.S. brokerage entity under Tiger Brokers, have provided plaintiffs in related litigation with information on more than 310 accounts suspected of involvement in options insider trading. The figure was previously around 100 accounts and has now risen to 310. Preliminary analysis cited in the report said the alleged illegal gains were concentrated among a small group of traders. Just eight traders made more than $80 million from the transactions, accounting for nearly 60% of the plaintiffs’ estimated total illegal profit of $137 million. Those traders were accused of making large early purchases of short-dated options tied to Futu and Tiger Brokers before regulators released broker rectification documents. The related accounts were later frozen. The report added that not all account holders have been formally named as defendants, and participation in the trading does not by itself mean insider trading has been legally established. The case remains under investigation and in litigation.2070
regulation2026-07-23 12:05:14China CSRC Targets Cross-Border Brokerages: Seeks to Confiscate All Illegal Gains from Tiger, Futu, LongbridgeChina's securities regulator plans to confiscate all illegal gains from Tiger Brokers, Futu Securities, and Longbridge Securities, both domestically and overseas, marking an escalation from curbing new accounts to liquidating past profits for cross-border brokerage services.540
insider tradi2026-07-02 12:01:36US SEC Probes Insider Trading Allegations in Futu/Tiger Brokers Crackdown: Susquehanna Claims $100M Options ProfitChainCatcher reports that US regulators are investigating insider trading allegations brought by Susquehanna International Group, which claims unknown traders made $100 million in options profits before China's regulatory crackdown on cross-border brokerages Futu Securities and Tiger Brokers. Susquehanna, acting as counterparty, lost over $70 million and has obtained a court order to freeze related accounts. The SEC is reviewing the trades described in the lawsuit, which targeted options expiring after the May 22 regulatory announcement that led to Futu being fined 1.85 billion RMB and its founder losing $1.7 billion in a single day.2060
