Ex-money exchange branch manager charged by ICAC admits using false documents over $7.5m remittance
2022-8-12
A former branch manager of a currency exchange company, charged by the ICAC, today (August 12) admitted at the West Kowloon Magistrates’ Courts that he had used remittance application forms containing false information to deceive the company that a customer had settled the remittance amount in full before remitting a total of over $7.5 million.
Au Yeung Hin, 28, former branch manager of Hui’s Brothers Foreign Currency Exchange Company Limited (Hui’s Brothers), pleaded guilty to nine counts of agent using document with intent to deceive his principal, contrary to Section 9(3) of the Prevention of Bribery Ordinance. The prosecution offered no evidence to another similar charge against him.
Deputy Magistrate Mr Tsang Hing-tung adjourned the case to August 26 for sentence, pending the defendant’s background report and remanded him in the custody of the Correctional Services Department.
At the material time, the defendant was a branch manager of Hui’s Brothers. He was responsible for overseeing the operation of a branch in Tsuen Wan. When handling a remittance, staff members of the branch were required to submit to Hui’s Brother a remittance application form containing details of a remittance. According to the company’s policy, a remittance would only be processed after a customer had settled the remittance amount in full.
The court heard that on nine occasions between November 23, 2020 and January 4, 2021, the defendant submitted a total of 16 remittance application forms to Hui’s Brothers requesting to remit a total of over $7.5 million for a customer. On each of the application forms, the defendant falsely stated that the remittance amount had been settled by cash by the customer.
The ICAC inquiries revealed that the customer had only made a partial payment to Hui’s Brothers after each remittance was handled but not settling the remittance amount in full in advance. Had Hui’s Brothers known of it, the company would not have processed the remittance applications. As of January 4, 2021, the customer still owed Hui’s Brothers an outstanding amount of over $2 million.
Hui’s Brothers had rendered full assistance to the ICAC during its investigation into the case.
The prosecution was today represented by ICAC officers Wily Chan and Jayne Woo.
Au Yeung Hin, 28, former branch manager of Hui’s Brothers Foreign Currency Exchange Company Limited (Hui’s Brothers), pleaded guilty to nine counts of agent using document with intent to deceive his principal, contrary to Section 9(3) of the Prevention of Bribery Ordinance. The prosecution offered no evidence to another similar charge against him.
Deputy Magistrate Mr Tsang Hing-tung adjourned the case to August 26 for sentence, pending the defendant’s background report and remanded him in the custody of the Correctional Services Department.
At the material time, the defendant was a branch manager of Hui’s Brothers. He was responsible for overseeing the operation of a branch in Tsuen Wan. When handling a remittance, staff members of the branch were required to submit to Hui’s Brother a remittance application form containing details of a remittance. According to the company’s policy, a remittance would only be processed after a customer had settled the remittance amount in full.
The court heard that on nine occasions between November 23, 2020 and January 4, 2021, the defendant submitted a total of 16 remittance application forms to Hui’s Brothers requesting to remit a total of over $7.5 million for a customer. On each of the application forms, the defendant falsely stated that the remittance amount had been settled by cash by the customer.
The ICAC inquiries revealed that the customer had only made a partial payment to Hui’s Brothers after each remittance was handled but not settling the remittance amount in full in advance. Had Hui’s Brothers known of it, the company would not have processed the remittance applications. As of January 4, 2021, the customer still owed Hui’s Brothers an outstanding amount of over $2 million.
Hui’s Brothers had rendered full assistance to the ICAC during its investigation into the case.
The prosecution was today represented by ICAC officers Wily Chan and Jayne Woo.