Two directors of Canwell Forex International received suspended sentences for submitting false bank account information that allowed them to obtain a trading licence from the Securities and Futures Commission.
Deputy Judge Stephen Geiser jailed Cheng Chi-sin and Lam Shu-man for six months suspended for 18 months.
Cheng, 44, was fined $80,000 and Lam, 35, was fined $60,000, the District Court heard.
Prosecutor Gramsci DiFazio said the defendants applied for a leveraged foreign exchange trader licence in 1994.
They submitted and signed documents required by the SFC, claiming the firm had sufficient funds to be eligible for the trading licence.
The prosecution said the pair claimed Canwell had between $28 million and $32 million in the bank. The legal requirement is $25 million.