Police investigating Hang Fung Gold’s management after death of Chairman
People would think that the Hang Fung Gold (870) saga would go away as the funeral of Lam Sai Wing (former Chairman of Hang Fung Gold) was held yesterday. But then on today’s newspaper, it was revealed that the police was investigating an embezzlement of HKD 200 million from the management of 870. Does it mean that someone in the management is taking advantage of the situation and tried to take away big sum of cash from the company?
Seriously investors should shy away from this type of company, even when the share price has dropped more than 60%.
October 13th, 2008 at 10:46 pm
Thanks to our reader Derek who pointed out the error. The correct company name is Hang Fung Gold, not Hang Lung Gold. Thanks Derek!