Third defendant in the insider trading case of Futu Holdings and Tiger Brokers' US stock options emerges

Odaily Planet Daily News In the insider trading case of Futu Holdings and Tiger Brokers' US stock options, two defendants have previously emerged, one being an individual and the other an investment institution. Now, a third defendant has surfaced in an attempt to unfreeze assets. According to a statement filed with a US court on July 23, the third defendant is Yang Jingyao, whose Chinese name is Yang Jingyao and has been a Hong Kong resident since 2020. Yang Jingyao stated, "My personal assets far exceed my personal debts," and "I have no overdue debts." According to public documents from the Hong Kong Stock Exchange, the single largest shareholder and the person who initiated the previous mandatory general offer for Hong Kong-listed company Rongzun International is also named "Yang Jingyao."

HKEX documents show that Yang Jingyao of Rongzun International is 32 years old, and his mother is a wealthy individual from mainland China. Yang Jingyao is described as a businessman and private investor who has long invested in listed securities, information technology companies, startups, and other financial assets through brokers and wholly-owned private investment companies incorporated in Hong Kong and the British Virgin Islands. However, there is currently no publicly available evidence linking the securities accounts or funds involved in the US court's restraining order to the lapse of Rongzun International's offer. (Caixin)