The Securities and Futures Commission of Hong Kong has banned Ms Liu King Yee, a former employee of Wing Lung Bank, from re-entering the industry for life after having been convicted in the High Court for fraud.

Liu was a relevant individual engaged by Wing Lung Bank to carry on Type 1 (dealing in securities) and Type 4 (advising on securities) regulated activities under the Securities and Futures Ordinance. She was sentenced to 10 years and four months of imprisonment on 27 October 2015 after her conviction for three counts of fraud under the Theft Ordinance.

The court found that Liu fraudulently told three HNW customers about certain high-return investment products. As a result, they paid her large sums of money for investment between September 2010 and January 2014, and suffered collective losses of more than $25.8 million.

The Hong Kong Monetary Authority referred the case to the SFC.