Trades After Two-Year Lapse Lead to SEC Suit, Asset Freeze (1)

A federal judge froze some of the assets of a group of foreign traders while the SEC investigates them for manipulating a stock that last traded in 2017.

Binji Lu had about $145,000 frozen, while Chong Poui Fan and Kit Mun Chan had around 314,000 combined Medico International Inc. shares frozen, the June 19 U.S. District Court for the Southern District of New York order said. Lau Kean Chong and Youn Chien Wong are defendants in the Securities and Exchange Commission suit but weren’t subject to the asset freeze.

Attorneys for the defendants weren’t listed on the docket and couldn’t ...