Ex-money exchange branch manager charged by ICAC jailed for using false documents over $7.5m remittance
2022-8-26
A former branch manager of a currency exchange company, charged by the ICAC, was today (August 26) sentenced to four months’ imprisonment at the West Kowloon Magistrates’ Courts for using 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), earlier 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.
In sentencing, Deputy Magistrate Mr Tsang Hing-tung said an immediate custodial sentence was necessary in view of the substantial amount of money involved in this case. The magistrate took a starting point of six months’ imprisonment, and reduced the defendant’s jail term to four months having considered his guilty plea.
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), earlier 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.
In sentencing, Deputy Magistrate Mr Tsang Hing-tung said an immediate custodial sentence was necessary in view of the substantial amount of money involved in this case. The magistrate took a starting point of six months’ imprisonment, and reduced the defendant’s jail term to four months having considered his guilty plea.
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.