FINANCE

Hong Kong Councilor Failed to Declare HK$6 Million From Fraud-Linked Firm

Published: Apr. 14, 2026 11:50 a.m. GMT+8

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Leung Ka-fai.

A Hong Kong district councilor failed to declare about HK$6 million ($766,000) in income earned over four years from a listed company now embroiled in a cross-border fraud investigation, raising questions over his ties to the case.

Leung Ka-fai, a Sha Tin District Council member, served as a non-executive director of Ding Yi Feng Holdings Group International Ltd. from 2016 to 2024, but did not report the role or related remuneration during 2016-2019, when he was subject to disclosure requirements.

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Hong Kong councilor Leung Ka-fai failed to declare HK$6M ($766K) income from Ding Yi Feng (2016-2019).
Served as non-executive director 2016-2024, earning ~HK$10M total + 9.8M share options.
Company linked to fraud; founder Sui indicted in China, HK court froze HK$82.4M assets.

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Who’s Who

Ding Yi Feng Holdings Group International Ltd.: Ding Yi Feng Holdings Group International Ltd. (now Carmen Century Investment Ltd.) was a Hong Kong-listed firm where councilor Leung Ka-fai served as non-executive director (2016-2024), earning ~HK$10M. Part of the Ding Yi Feng group controlled by Sui Guangyi, it's linked to a multibillion-dollar fundraising fraud probe in China and HK asset freezes of HK$82.4M for alleged stock manipulation.

Carmen Century Investment Ltd.: Carmen Century Investment Ltd., formerly Ding Yi Feng Holdings Group International Ltd., is a Hong Kong-listed company in the Ding Yi Feng group controlled by Sui Guangyi. It used its listing to gain credibility while affiliates sold high-return investment products in a multibillion-dollar fundraising fraud scheme. Sui faces indictment in China; HK court froze HK$82.4M in related assets for stock manipulation.

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