Chairman and former deputy chairman of listed company face additional ICAC charges
2013-12-20
The chairman and a former deputy chairman of a listed company, who were earlier charged by the ICAC with conspiracy to defraud in relation to the acquisition of natural gas and oil fields in the United States of America, were today (Friday) laid with eight additional charges when they appeared at the Eastern Magistracy.
Wong Yuk-kwan, alias Wong Kwan, 66, chairman and executive director of Pearl Oriental Oil Limited (POOL), formerly known as Pearl Oriental Innovation Limited (POIL), faced seven additional charges of dealing with property known or believed to represent proceeds of an indictable offence, contrary to Section 25(1) of the Organised and Serious Crimes Ordinance (OSCO).
Lew Mon-hung, 65, former deputy chairman and executive director of POOL, was charged with a similar additional offence.
Also appearing at the magistracy today were co-defendants Yik Siu-hung, 44, housewife; and Kitty Yip Sui-kuen, 44, vice financial officer and administrative manager of POOL.
All four defendants now faced a total of 15 charges, including the seven and one additional charges laid against Wong and Lew respectively today.
The seven additional charges alleged that between March 10, 2010 and May 17, 2011, Wong had dealt with a total of HK$200 million and 678.25 million shares of POIL, knowing or having reasonable grounds to believe that the monies and shares represented proceeds of an indictable offence.
Lew faced an additional charge of having dealt with 169.56 million shares of POIL on May 17, 2011, knowing or having reasonable grounds to believe that the shares represented proceeds of an indictable offence.
The seven other charges were two of conspiracy to defraud, contrary to Common Law; four of dealing with property known or believed to represent proceeds of an indictable offence, contrary to Section 25(1) of the OSCO; and one of employing a device, scheme or artifice in a transaction in securities with intent to defraud or deceive, contrary to Section 300(1)(a) of the Securities and Futures Ordinance.
In February 2012, the ICAC commenced an investigation into the case in relation to suspected offences under the Prevention of Bribery Ordinance. Subsequent enquiries revealed the above alleged offences.
The four defendants today pleaded not guilty to all charges. Magistrate Mr David Chum Yau-fong committed their case to the Court of First Instance (CFI) for trial on a date to be fixed.
Wong and Lew were granted cash bail of HK$5 million and HK$3 million respectively, while Yik and Yip were on cash bail of HK$400,000 each. They were also ordered not to interfere with prosecution witnesses directly or indirectly, to reside at their reported addresses, to inform the ICAC of any change of address within 24 hours, and to attend any pre-trial review as requested by the CFI.
The prosecution was today represented by Senior Public Prosecutor Peggy Lo, assisted by ICAC officer William Lam.
Wong Yuk-kwan, alias Wong Kwan, 66, chairman and executive director of Pearl Oriental Oil Limited (POOL), formerly known as Pearl Oriental Innovation Limited (POIL), faced seven additional charges of dealing with property known or believed to represent proceeds of an indictable offence, contrary to Section 25(1) of the Organised and Serious Crimes Ordinance (OSCO).
Lew Mon-hung, 65, former deputy chairman and executive director of POOL, was charged with a similar additional offence.
Also appearing at the magistracy today were co-defendants Yik Siu-hung, 44, housewife; and Kitty Yip Sui-kuen, 44, vice financial officer and administrative manager of POOL.
All four defendants now faced a total of 15 charges, including the seven and one additional charges laid against Wong and Lew respectively today.
The seven additional charges alleged that between March 10, 2010 and May 17, 2011, Wong had dealt with a total of HK$200 million and 678.25 million shares of POIL, knowing or having reasonable grounds to believe that the monies and shares represented proceeds of an indictable offence.
Lew faced an additional charge of having dealt with 169.56 million shares of POIL on May 17, 2011, knowing or having reasonable grounds to believe that the shares represented proceeds of an indictable offence.
The seven other charges were two of conspiracy to defraud, contrary to Common Law; four of dealing with property known or believed to represent proceeds of an indictable offence, contrary to Section 25(1) of the OSCO; and one of employing a device, scheme or artifice in a transaction in securities with intent to defraud or deceive, contrary to Section 300(1)(a) of the Securities and Futures Ordinance.
In February 2012, the ICAC commenced an investigation into the case in relation to suspected offences under the Prevention of Bribery Ordinance. Subsequent enquiries revealed the above alleged offences.
The four defendants today pleaded not guilty to all charges. Magistrate Mr David Chum Yau-fong committed their case to the Court of First Instance (CFI) for trial on a date to be fixed.
Wong and Lew were granted cash bail of HK$5 million and HK$3 million respectively, while Yik and Yip were on cash bail of HK$400,000 each. They were also ordered not to interfere with prosecution witnesses directly or indirectly, to reside at their reported addresses, to inform the ICAC of any change of address within 24 hours, and to attend any pre-trial review as requested by the CFI.
The prosecution was today represented by Senior Public Prosecutor Peggy Lo, assisted by ICAC officer William Lam.