The Securities and Futures Commission (SFC) today noted that court-appointed administrators had distributed approximately $19 million worth of assets this month as compensation to affected clients of Hong Kong Wan Kiu Investment Company Limited (HKWK) following the approval of the Court of First Instance in January 2025.
This came after the Court granted final reliefs – including a restoration order in favour of the affected clients of HKWK, alongside an order appointing administrators to recover and administer HKWK’s assets – in November 2022 following legal proceedings brought by the SFC under section 213 of the SFO.
The SFC’s legal proceedings arose from an investigation after detecting signs of financial irregularities on the part of HKWK. The SFC’s investigation revealed that HKWK and its sole director and shareholder, Connie Sham Khi Rose, had sold securities of HKWK’s clients without their authorisation, misappropriated the sales proceeds, and falsified client statements to conceal the unauthorised transactions.
The SFC subsequently referred the matter to the Police for further investigation which resulted in the criminal prosecution of Sham by the Department of Justice.
The criminal proceedings at the High Court against Sham have concluded. Sham pleaded guilty to misappropriating around $58 million worth of HKWK’s client assets between 2011 and 2019. On 3 July 2025, Sham, aged 88, was sentenced to 160 hours of community service, with the Court taking into account her remorse and the fact that she had already compensated the affected clients of HKWK through resources of her own, her family and friends.
