BlockBeats news, on July 24, according to Caixin, the highly publicized insider trading case involving Futu Holdings and Tiger Securities U.S. stock options previously involved two defendants—a natural person and an investment institution—now a third defendant has emerged in an effort to unfreeze assets. According to a statement filed with a U.S. court on July 23, the third defendant is Yang Jingyao, a Hong Kong resident since 2020. Yang Jingyao stated, “My personal assets far exceed my personal liabilities,” and “I have no outstanding debts.” Public filings from the Hong Kong Stock Exchange indicate that the sole largest shareholder and previous mandatory general offeror of the Hong Kong-listed company Rongzun International is also named “Yang Jingyao.”
According to HKEX filings, 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 public evidence linking the securities accounts or funds subject to the U.S. court restraining order to the termination of Rongzun International’s offer.