Trading firm director in court for .3m bribery while listed company director wanted by ICAC
2015-6-22
A director of a timber trading company appeared in the Eastern Magistracy today (Monday) after being charged by the ICAC with conspiracy for an executive director of a listed company to accept over .3 million in illegal rebates in relation to purchase orders, while the executive director is wanted for her alleged role in the case.
He Chao, 53, a director cum shareholder of Glory Luck (Hong Kong) Limited (GLL), who was charged last Thursday (June 18), faced one count of conspiracy for an agent to accept advantages, contrary to Section 9(1)(a) of the Prevention of Bribery Ordinance and Section 159A of the Crimes Ordinance.
No plea was taken. Principal Magistrate Ms Bina Chainrai transferred the case to the District Court for plea on July 14 this year.
At the material time, the defendant was a director cum shareholder of GLL, which engaged in timber trading business. GLL was a wood products supplier of Kohnan Shoji Company Limited (KNC), a listed company in Japan, of which Haruko Arakawa was its executive director cum Head of Overseas Department.
The charge alleged that between March 17, 2010 and November 2, 2011, the defendant conspired with Arakawa for Arakawa to accept rebates from He as a reward for approving the procurement of 59 purchase orders with GLL.
The illegal rebates allegedly accepted by Arakawa, which were at a rate of five per cent of the transaction amount of purchase orders procured by her and entered into between KNC and GLL, were said to amount to over .3 million.
The defendant was granted cash bail of $200,000. He was also ordered to surrender his travel documents, not to leave Hong Kong and not to interfere with prosecution witnesses.
Arakawa, 52, a Japanese resident, is currently not in Hong Kong. Upon an application from the ICAC, the Eastern Magistracy has issued a warrant for the arrest of Arakawa for a similar bribery offence.
Anyone who has information on the whereabouts of Arakawa or any other information which may lead to her arrest is urged to contact the ICAC on its 24-hour hotline 2526 6366. Information received will be treated in the strictest confidence.
He Chao, 53, a director cum shareholder of Glory Luck (Hong Kong) Limited (GLL), who was charged last Thursday (June 18), faced one count of conspiracy for an agent to accept advantages, contrary to Section 9(1)(a) of the Prevention of Bribery Ordinance and Section 159A of the Crimes Ordinance.
No plea was taken. Principal Magistrate Ms Bina Chainrai transferred the case to the District Court for plea on July 14 this year.
At the material time, the defendant was a director cum shareholder of GLL, which engaged in timber trading business. GLL was a wood products supplier of Kohnan Shoji Company Limited (KNC), a listed company in Japan, of which Haruko Arakawa was its executive director cum Head of Overseas Department.
The charge alleged that between March 17, 2010 and November 2, 2011, the defendant conspired with Arakawa for Arakawa to accept rebates from He as a reward for approving the procurement of 59 purchase orders with GLL.
The illegal rebates allegedly accepted by Arakawa, which were at a rate of five per cent of the transaction amount of purchase orders procured by her and entered into between KNC and GLL, were said to amount to over .3 million.
The defendant was granted cash bail of $200,000. He was also ordered to surrender his travel documents, not to leave Hong Kong and not to interfere with prosecution witnesses.
Arakawa, 52, a Japanese resident, is currently not in Hong Kong. Upon an application from the ICAC, the Eastern Magistracy has issued a warrant for the arrest of Arakawa for a similar bribery offence.
Anyone who has information on the whereabouts of Arakawa or any other information which may lead to her arrest is urged to contact the ICAC on its 24-hour hotline 2526 6366. Information received will be treated in the strictest confidence.
