The owner of a hotel has been charged by the ICAC with defrauding a bank of three loans totalling $200 million by falsely representing that the loan proceeds would be used for renovation of the hotel.

Lau Hei-wing, 59, owner of The Kimberley Hotel, who was charged yesterday (Wednesday), faces three counts of fraud, contrary to Section 16A of the Theft Ordinance.

The defendant will appear at the Eastern Magistracy tomorrow (Friday) for transfer to the District Court for plea.

The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the above alleged offences of fraud.

At the material time, the defendant owned The Kimberley Hotel in Tsim Sha Tsui through Regent National Enterprises Limited (RNEL). He was responsible for operating the hotel.

The charges allege that between February 2 and April 14, 2010, the defendant falsely represented to the Industrial and Commercial Bank of China (Asia) Limited (ICBC) on three occasions that three sums of $20 million, $80 million and $100 million were to be used exclusively for renovation of the hotel, and that the three sums of money had been paid to an architectural design firm.

With intent to defraud, the defendant allegedly induced ICBC to release the three sums of money, amounting to $200 million, to the bank account of RNEL with the bank.

ICBC has rendered full assistance to the ICAC during its investigation.

The defendant has been released on ICAC bail, pending his court appearance tomorrow.