Hong Kong businessman charged with filing false SEC forms
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A Hong Kong businessman has been indicted for allegedly filing false and deceptive investment adviser forms with the United States Securities and Exchange Commission (SEC). The Hong Kong native was indicted by a federal grand jury in the District of Columbia for his role in the conspiracy. According to United States authorities, the Hong Kong native, Guanhua Su, filed false SEC investment adviser forms for at least 10 shell businesses that he and other co-conspirators created. Authorities claimed that the false form gave the impression that the firms were legitimate financial advisers, even though they were fake entities. Law enforcement claimed that at least two of the fake entities were then used to convince retail investors through WhatsApp and other social media to invest in stocks of Chinese firms listed on NASDAQ. Hong Kong businessman indicted by federal grand jury According to the indictment, Su, a 37-year-old Hong Kong native who goes by the alias Michael Su, was the managing director and marketing director of Rhino Consulting Business Services Ltd. The firm is based in Hong Kong and offers financial services. Authorities claimed that Su and other co-conspirators carried out the alleged offenses between February 2023 and March 2025. Su and other indicted parties created at least 10 shell firms and filed the fraudulent SEC forms on behalf of all the companies. Authorities claimed that he made false statements concerning all the firms, noting examples in relation to filings made for Bluesky Eagle Capital Management and Wisdom Capital Management Group. They claimed that Su allegedly made false statements concerning both firms’ place of business, status as a public company, among others. In the indictment, authorities claimed that Bluesky Eagle and Wisdom Capital were used by the co-conspirators to convince investors to purchase stock of a NASDAQ-listed public company based in…
Filed under: News - @ November 15, 2025 9:24 am