File photo shows Barry Cheung. Choi, who had pleaded guilty and become a prosecution witness against Cheung, has been sentenced to one year of imprisonment. They allegedly conspired to hide the exchange's actual financial position between May 2012 and May 2013 to mislead the Securities and Futures Commission into letting it keep its license. Cheung was also alleged of cheating a company called Sinomax Finance out of HK$30 million that went to his company, New Effort Holdings. He served as chairman for Leung Chun-ying's campaign in the 2012 chief executive election and was appointed a non-official member of the Executive Council.

Source: The Standard July 23, 2020 07:07 UTC