Fourteen months’ jail for pocketing $630,000 from Tso Tong
2015-7-7
A former treasurer of a Tso Tong, charged by the ICAC, was today (Tuesday) sentenced to 14 months’ imprisonment at the District Court for theft and using false instruments to misappropriate over $630,000 from the Tso Tong.
Fu Siu-ping, 59, former manager cum treasurer of Fu Ng Yi Tong (FNYT), earlier pleaded guilty to two charges – one of theft and one of using a false instrument. Eight other charges of using a false instrument were ordered to be left on court file.
In sentencing, Judge Mr Kwok Wai-kin said the offences committed by the defendant were serious in nature, lasted a long period of time and constituted a breach of trust.
The judge added that the starting point of 30 months in jail was reduced to 14 months after taking into account the defendant’s guilty plea and various mitigating factors.
The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the above offences.
The court heard that at the material time, the defendant was the manager cum treasurer of FNYT, a Tso Tong in Tsuen Wan.
The sole source of income of FNYT was the monthly rentals from its three properties. The tenants paid their respective rentals by depositing the monies into an account jointly held in the names of four managers, including the defendant, on behalf of FNYT with the Hongkong and Shanghai Banking Corporation Limited (HSBC).
Any withdrawal of monies from the account required signatures of any two of the managers of FNYT.
The court heard that between January 2009 and October 2012, the defendant submitted cash withdrawal slips bearing his signature and that of another manager to a branch of HSBC in Tsuen Wan in order to withdraw various sums of monies from the account.
The said manager, however, confirmed that he had never appended his signatures on those slips nor had he been informed of the withdrawals by the defendant.
As a result of the withdrawal slips, the defendant withdrew a total of over $630,000 from the account.
After his arrest by ICAC officers, the defendant admitted under caution that he had misappropriated the funds because of his own financial difficulties, the court was told.
The prosecution was today represented by prosecuting counsel Alex Ng, assisted by ICAC officer Sandy Leung.
Fu Siu-ping, 59, former manager cum treasurer of Fu Ng Yi Tong (FNYT), earlier pleaded guilty to two charges – one of theft and one of using a false instrument. Eight other charges of using a false instrument were ordered to be left on court file.
In sentencing, Judge Mr Kwok Wai-kin said the offences committed by the defendant were serious in nature, lasted a long period of time and constituted a breach of trust.
The judge added that the starting point of 30 months in jail was reduced to 14 months after taking into account the defendant’s guilty plea and various mitigating factors.
The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the above offences.
The court heard that at the material time, the defendant was the manager cum treasurer of FNYT, a Tso Tong in Tsuen Wan.
The sole source of income of FNYT was the monthly rentals from its three properties. The tenants paid their respective rentals by depositing the monies into an account jointly held in the names of four managers, including the defendant, on behalf of FNYT with the Hongkong and Shanghai Banking Corporation Limited (HSBC).
Any withdrawal of monies from the account required signatures of any two of the managers of FNYT.
The court heard that between January 2009 and October 2012, the defendant submitted cash withdrawal slips bearing his signature and that of another manager to a branch of HSBC in Tsuen Wan in order to withdraw various sums of monies from the account.
The said manager, however, confirmed that he had never appended his signatures on those slips nor had he been informed of the withdrawals by the defendant.
As a result of the withdrawal slips, the defendant withdrew a total of over $630,000 from the account.
After his arrest by ICAC officers, the defendant admitted under caution that he had misappropriated the funds because of his own financial difficulties, the court was told.
The prosecution was today represented by prosecuting counsel Alex Ng, assisted by ICAC officer Sandy Leung.