News: The Court Commentaries (2023 revised) (東張西望 in 2022) of Fred Chan's Case Which Involved More Than USD 38 Million
Court Commentaries (Feb 2022)
Comments on the (suspected) fraud case of Fred Chan - how can Fred make an illusion of earning money for the people (for more than 1 year), on 14-Feb-2022
Date: 27-Aug:
News Source: Orientaldaily.on.cc (東方日報): https://orientaldaily.on.cc/cnt/news/20200827/00176_065.html
The Case of An Assistant Principal Deceiving Remuneration of HKEAA with the Preliminary Evidence Established (Original in Chinese)
路德會西門英才中學的助理校長陳耀輝 (Fred CHAN)，涉嫌向香港考試及評核局隱瞞他在現代教育擔任導師，於一八年獲委任為文憑試（DSE）英文口試的報到室主管，並藉此獲取三千七百八十元酬金的案件，昨天在東區法院續審，裁判官裁定陳欺詐罪表證成立。被告自辯稱，報到室主管工作辛苦，但報酬微薄，因為沒有合適的人選，才由他擔任，而他一年收入逾一百萬元，平日消費不菲，涉案金額不過是等於他「開支較差的酒飲」，故他從不重視該筆報酬。
Mr. Fred CHAN (CHAN Yiu Fai Fred), an assistant principal of Gertrude Simon Lutheran College, was suspected of concealing the Hong Kong Examinations and Assessment Authority (HKEAA) that he was also a teacher in the Modern Education (Tutoring School). And the case of obtaining a remuneration of HKD 3,780 continued in the Eastern District Court yesterday, and the judge ruled that Fred Chan's crime of fraud was proven preliminarily. The defendant argued that the supervisor work of the registration room is difficult, but the pay was meagre. He was appointed because there was no other suitable candidates. He said that he earned more than one million Hong Kong dollars a year and spent a lot of money on weekdays. The amount involved was only equal to his expense of a poor wine, so he did not pay much attention to the amount of pay.
Hong Kong Court case number: ESCC 2636/2019
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Appendix: From the investment experts and court commentariers:
Question #1: Why was it possible to withdraw money smoothly before?
Question #2: How do you know that the trader has been hiding the losing trade? Is there any evidence?
你怎麼知道操盤者一直隱瞞輸單？有什麼證據？
Answer #2: The evidence is in the Daily statements and Monthly statements. As the trade numbers of the foreign exchange transaction are in sequence, e.g. if the trader continuously made 3 trades, the trade numbers could be 52153, 52154 and 52155.
Just after the day of the event of 97% loss (8 Dec 2021), all the victims got a Daily statement that showed the loss trades with the master trade numbers. The master trade numbers could be also found similarly in the statements in July to November. E.g. the loss trade “from master trade #45790” is found in the Daily statement of 8 Dec 2021 and the victims can also find a profit trade in the monthly statement in July “from master trade #45789” (its settle time was 2021.07.09 20:27:08).
So it is evident that the trader has hidden the floating loss with the broker (Multibank) since July 2021, and the broker wrongly wrote the floating P/L to be zero in all the daily / monthly statements, which tried to mislead the victims that the trader was always gaining profit in each month (an illusion). As there is an agreement that if the trader (Solomon King Investment Company Limited or Fred Chan) earned profit in a month, 50% of the profit could be shared with or be transferred to the trader's account. But in fact, such so-called “profit” is actually the principal value of the victims (just by settling the profit trades to make them appear in the statements and accumulating the loss trades (not settling the loss trades and to hide them)) and the trader always said that the floating P/L (Profit / Loss) was zero daily / monthly (Multibank also always wrote it to be zero).
Answer #2: 證據就在(受害者)你們的月結單和爆倉當日的日結單上面的”master trade #xxxxx”可以找到蛛絲馬跡。外匯平台中每一個交易都有一個獨立的交易號碼，而該些交易號碼在同一賬戶同一段時間內是是連續的，例如操盤手連續下了三張訂單，則該些交易號碼會是 52153、52154、52155。
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The online fraud case was reported and accepted by the police both in Hong Kong and in the UK: (Info provided by the victims, who were friends, ex-colleagues and students of Fred Chan and his wife Jessie Ho)
Police Report Case Number(s):
1) Hong Kong: WCH RN 21046066 - the main (Hong Kong) police case report number, ccbrn21002109
Being investigated by CCB (Commercial Crime Bureau) and SFC in 2022.
3) Hong Kong Police Electronic (online) report case number: ERC2112231094951
4) UK: National Fraud & Cyber Crime Report Centre: Crime reference number = NFRC211204908942
5) UK: SAR ID: 1363963 reported to NCA (National Crime Agency) in 2021-Dec.
Please feel free to report any interesting news to the authors with email to: solomon.complaints.mb (at @) gmail.com
Thanks for watching!!!!!
This guy has drawn the attention of a lot of Hong Kong people around the world.
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