Parkside’s Mike Yeung successfully obtained judgment in the Plaintiff’s favour when the Plaintiff (Yeung Siu Yung), a high net worth individual, was allegedly involved in a HK$68 million investment fraud claim relating to an elaborate scam led by D1 and assisted by D2 to D8. D1 gained the plaintiff’s trust by presenting herself as an experienced banker, subsequently inducing payments under false pretences of lucrative investment opportunities. Further payments were extracted under the guise of recovering previous investments and returns. The fraud came to light only after the plaintiff discussed the matter with her daughter.
The action was grounded in unlawful means conspiracy, with associated claims for fraudulent misrepresentation, deceit, breach of trust, breach of fiduciary duties, knowing receipt, and dishonest assistance.
Mike advised the plaintiff from an early stage, resisting an application by the defendants to stay proceedings due to parallel criminal investigations. He led efforts to trace funds and preserve assets through interlocutory injunctions (first ex parte, then inter partes), and successfully resisted multiple attempts by the defendants to vary injunction allowances.
Mike successfully obtained judgment in the Plaintiff’s favour with costs on an indemnity basis.
The full judgment can be accessed here.
