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Hong Kong Charges 13 in a Pump-and-Dump Scheme Crack Down

Hong Kong Charges 13 in a Pump-and-Dump Scheme Crack Down

The scale of the scheme was not revealed.

The perpetrators were charged for market manipulation and money laundering.

Hong Kong police and Securities and Futures Commission (SFC) have charged 13 suspects, a syndicate, of a sophisticated 'ramp-and-dump' scheme, otherwise known as pump-and-dump scheme, due to having committed several offences.

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